I was told today by my mortgage adviser that my Shropshire property lawyer is not on the lender Conveyancing panel. What can I do to be sure that this is correct?
You need to contact your Shropshire lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I am the single beneficiary of my late mum's estate and I have everything in my name now, including the house in Shropshire. The Shropshire property was put into my name in June. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the house in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. Most banks would take a practical view as this obligation chiefly exists to identify the purchase and immediately sell or the flipping of properties.
Does a directory service exist listing Yorkshire BS panel solicitors in Shropshire on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings visible online. If you are in need of a Shropshire lawyer on the Yorkshire BS please use our tool.
I currently have a mortgage with Virgin Money for my property in Shropshire. Conveyancing has been completed some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
You must advise Virgin Money in advance of letting out your property as this is likely to be a breach of Virgin Money’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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
What does a local search inform me about the property my wife and I purchasing in Shropshire?
Shropshire conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations for example Searches UK The local search is essential in every Shropshire conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I am selling my property. My past conveyancers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Shropshire if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Shropshire. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am in need of some leasehold conveyancing in Shropshire. Before diving in I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Shropshire - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a split level flat in Shropshire, conveyancing formalities finalised December 2006. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Shropshire with a long lease are worth £201,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2086
With only 65 years unexpired we estimate the price of your lease extension to be between £13,300 and £15,400 plus 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. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.