AssumingI were to acquire a freehold homein St Neots mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in St Neots?
Any savings you would make would be limited to the St Neots conveyancing searches. The lawyer is required to do the vast majority of work - money laundering, correspond with the sellers conveyancing practitioner, stamp duty return, register the ownership etc. A marginal saving might be made by not having to register a mortgage but it won't be significant.
We are getting the release of further monies on our mortgage from Nottingham as we want to carry out a loft conversion to our home in St Neots. Are we obliged to select a local St Neots solicitor on the Nottingham conveyancing panel to handle the legals?
Nottingham don't usually appoint firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham list.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a St Neots solicitor on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Lloyds have agreed my mortgage in principle, my bid on a apartment in St Neots has been agreed to, what happens next?
The property agent will need to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s approved list). Contact Lloyds or the broker and finalise any relevant paperwork. Lloyds will sellect a valuer who will get in contact with the estate agent or seller to schedule a slot for the valuation to happen. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. Lloyds will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in St Neots.
I opted to have a survey carried out on a property in St Neots prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some lenders will not issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St Neots. Conveyancing will be smoother if you use a solicitor in St Neots especially if they regularly deal with such properties in St Neots.
Completion is due on the disposal of our £175,000 apartment in St Neots in just under a week. The managing agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in St Neots?
St Neots conveyancing on leasehold flats typically necessitates administration charges raised by managing agents :
Completing pre-exchange questions
Where consent is required before sale in St Neots
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in St Neots - Sample of Questions you should consider before buying
Who are the managing agents? Its a good idea to discover as much as you can concerning the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are often at the mercy of the managing agents both financially and when it comes to daily matters such as the upkeep of the communal areas. Ask other tenants what they think of their service. On a final note, be sure you understand the dates that the maintenance fees are due to the relevant party and specifically what you get for your money. What restrictions are there in the St Neots Lease?
Do I cancel the direct debit for my mortgage with RBS as soon as a completion date for my home sale in St Neots has been set?
No, you must keep paying any mortgage sums to RBS until the mortgage is repaid out of the proceeds of sale as part of your St Neots conveyancing.