Please help - my lawyer advises that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Old Windsor?
The right level of flying freehold indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
After weeks of negotiation I have agreed a price on an apartment in Old Windsor. My financial adviser suggested a lawyer. I paid an on account payment of £150. Soon after, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Intending to buy a apartment in Old Windsor. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Old Windsor solicitor is on the Barclays conveyancing panel.
I require fast conveyancing in Old Windsor as I have an ultimatum to exchange contracts inside one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are not obtaining a home loan you have the choice not to do searches although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Old Windsor the following are instances of issues that can arise and therefore impact future mortgageability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...
Me and my brother have a renovated Georgian house in Old Windsor. Conveyancing lawyer represented me and Barnsley Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Old Windsor and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing practitioner who conducted the purchase.
I'm converting the mortgage on my primary home to a buy to let mortgage with Skipton Building Society and I will use the rest of the raised equity towards further property. The area we are interested in is Old Windsor. Will your conveyancers be able to act for both sets of mortgage companies and link together the transactions?
Make use of our comparison tool on this page to ensure that the conveyancers are approved by both banks. Having checked that they are the solicitor will be able to connect the two conveyancing matters but you should have a chat with you solicitor and specify your expectations and requirements.
I have just appointed agents to market my basement apartment in Old Windsor. Conveyancing is yet to be initiated, however I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you pay the service charge as normal given that all ground rent and maintenance payments will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Old Windsor Leasehold Conveyancing - Sample of Queries Prior to buying
The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this situation the lessees enjoy control and even though a managing agent is usually retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Plenty Old Windsor leasehold properties will be liable to pay a service bill for the upkeep of the building invoiced on behalf of the freeholder. If you acquire the flat you will have to meet this charge, normally periodically throughout the year. This could be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, normally this is not a significant amount, say around £50-£100 but you should to check it because sometimes it can be many hundreds of pounds. On the whole the outlay for major works are not included within service charges, albeit that there some managing agents in Old Windsor obliged leasehold owners to contribute towards a sinking fund and this is used to offset against major works.