My mortgage broker has requested my Ruddington solicitor’s panel reference for the Nationwide conveyancing panel. What is the best way to obtain this. I have called my local Ruddington branch but they have not got back to me yet.
Have you tried speaking to your Ruddington lawyer about this?. They keep a central record lender panel numbers.
I own a freehold property in Ruddington but still pay rent, why is this and what is this?
It is rare for properties in Ruddington and has limited impact for conveyancing in Ruddington but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My wife and I buying a end of terrace house in Ruddington. Our aim is to an extension at the rear at the house.Will the conveyancing process include investigations to ascertain if these alterations are permitted?
Your conveyancer will check the registered title as conveyancing in Ruddington will on occasion reveal restrictions in the title deeds which restrict categories of alterations or necessitated the permission of another owner. Certain additions need local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these things with a surveyor ahead of any purchase.
My partner and I are at the point of looking at apartments in Ruddington and I am now considering a potential offer. Should I already have a conveyancer in place at this stage? I will be getting a home loan with Co-operative.
It would be wise to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are getting a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
Santander have agreed my mortgage in principle, my bid on a property in Ruddington has been accepted, what are the next steps?
The estate agent will wish to know who your solicitors are (be sure the property lawyers are on the lender’s panel). Contact Santander or the financial adviser and complete any outstanding documentation. Santander will appoint a valuer who will get in touch with the selling agent or seller to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Santander will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Ruddington.
4 months have gone by following my purchase conveyancing in Ruddington took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 asset 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 £235,500 and identified one close by in Ruddington I like with open areas and transport links in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Ruddington in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.