It is a dozen years since I purchased my property in Seascale and Sellafield. Conveyancing solicitors have recently been retained on the sale but I am unable to locate the title deeds. Is this a problem?
You need not be too concerned. Firstly the deeds may be kept by your lender or they may be in the possession of the conveyancers who oversaw the purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Seascale and Sellafield involves registered property but in the unlikely event that your home is unregistered it is more of a problem but is not insurmountable.
I am considering applying for a HSBC mortgage for purchase of a newly converted (under development) in Seascale and Sellafield with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Will commercial conveyancing searches reveal impending roadworks that may impact a commercial property in Seascale and Sellafield?
Many commercial conveyancing solicitors in Seascale and Sellafield will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Seascale and Sellafield. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Seascale and Sellafield.
For each commercial conveyancing transaction in Seascale and Sellafield it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Seascale and Sellafield commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Seascale and Sellafield.
I decided to have a survey completed on a house in Seascale and Sellafield prior to instructing lawyers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies may refuse to grant a loan on this type of home.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Seascale and Sellafield. Conveyancing will be smoother if you use a solicitor in Seascale and Sellafield especially if they are accustomed to such properties in Seascale and Sellafield.
What makes a Seascale and Sellafield lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Seascale and Sellafield. All leases are individual and legal mistakes in the legal wording can result in certain sections are missing. The following missing provisions could result in a defective lease:
Maintenance charge proportions which don’t add up to the correct percentage A duty to insure the building
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , The Mortgage Works, and Clydesdale all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to withdraw.
I invested in buying a ground floor flat in Seascale and Sellafield, conveyancing formalities finalised in 2005. 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? Corresponding properties in Seascale and Sellafield with an extended lease are worth £171,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2100
You have 79 years unexpired we estimate the price of your lease extension to range between £7,600 and £8,800 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.