Do all mortgage companies provide you with an approved list of Ottery St Mary conveyancing solicitors? How do you know who is on the TSB conveyancing panel?
Ottery St Mary conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I'm buying a new build house in Ottery St Mary with a mortgage from Accord Mortgages Ltd. The builders would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not disclose to my lawyer about the extras as it would affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in Ottery St Mary I like with amenity areas and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Ottery St Mary suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Having checked my lease I have discovered that there are only 72 years remaining on my flat in Ottery St Mary. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. On the whole an enquiry agent should be helpful to try and locate and prepare an expert document to be used as evidence that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Ottery St Mary.
I am the registered owner of a ground floor flat in Ottery St Mary, conveyancing was carried out 5 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Ottery St Mary with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2090
With just 68 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
A licensed conveyancer dealt with my conveyancing in Ottery St Mary half a dozen years ago and was holding my registration documents but has since been shut down – What can I do to retreive these?
Deeds, as such, are no longer appropriate for the majority of properties in Ottery St Mary are registered digitally at Land Registry. If you need to prove ownership or are selling or re-mortgaging your lawyer should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to email@example.com. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.