I have decided to exercise my right to buy my property in Pangbourne off the council. I have a mortgage agreed with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
I currently have a mortgage with Aldermore for my property in Pangbourne. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Your original mortgage agreement with Aldermore will provide that you need their approval before renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
I am selling my flat. I had a double glazing fitted in February 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being a right pain. The Pangbourne solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been five months following my purchase conveyancing in Pangbourne completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £195,000 and identified one close by in Pangbourne I like with open areas and station in the vicinity, however it's only got 49 remaining years left on the lease. I can't really find anything else in Pangbourne suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
Back In 2003, I bought a leasehold flat in Pangbourne. Conveyancing and Platform Home Loans Ltd mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Pangbourne who previously acted has long since retired. What should I do?
The first thing you should do is contact HMLR to be sure that this person is in fact the new freeholder. It is not necessary to instruct a Pangbourne conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a studio flat in Pangbourne, conveyancing having been completed half a dozen 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? Comparable properties in Pangbourne with an extended lease are worth £201,000. The ground rent is £45 yearly. The lease ends on 21st October 2082
With 64 years unexpired we estimate the price of your lease extension to span between £14,300 and £16,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
We are in the throes of selling our flat in Pangbourne. Conveyancing is fine but we are being charged a fortune from the freeholder. To date we have paid £225 for a leasehold management information and then a further £134.40 for answers to questions raised by the purchaser's lawyer.
Your solicitor will unlikely have any control over the extent of the bill for this information but the average fee for the information for Pangbourne leasehold premises is £350. For Pangbourne conveyancing transactions it is customary for the seller to cover the costs. The freeholder or their agents are under no statutory obligation to address these questions although many will be willing to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no law that mandates set fees for administrative tasks. There is no prescriptive time limit by which they are obliged to issue answers.