I purchased my apartment on 7 May and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in Stone Cross advises it will be dealt with in a couple of weeks. Are properties in Stone Cross uniquely lengthy to register?
There is nothing unique about conveyancing in Stone Cross registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any other persons or bodies. Currently roughly three quarters of submission are fully addressed in less than three weeks but occasionally there can be extensive delays. Registration is effected once the buyer has moved in to the premises therefore registration formalities is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your solicitor should contact the land registry and explain the circumstances.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Stone Cross is where the house is located. Can you offer any advice?
Flying freeholds in Stone Cross are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stone Cross you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stone Cross may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm converting the mortgage on my existing home to a BTL mortgage with Barclays Direct and intend to use the remaining equity as a deposit on further house. The location we are interested in is Stone Cross. Will your conveyancers be able to act for both sets of mortgage companies and tie in the transactions?
Do use our comparison tool on this page to check that the solicitors are approved by both banks. On the basis that they are your solicitor should be able to tie up the two deals but you should talk with you solicitor and communicate your expectations and needs.
Looking forward to sign contracts shortly on a basement flat in Stone Cross. Conveyancing solicitors have said that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Stone Cross should include some of the following:
Repair and maintenance of the property Where does the liability rest for repairing the window frames Are pets allowed in the flat? It needs to be made clear to you if the lease permits you to alter or improve anything in the property- you must be made aware as to whether any restrictions applies to all alterations or limited to structural alteration, and whether permission is required
I purchased a basement flat in Stone Cross, conveyancing was carried out January 2006. Can you work out an approximate cost of a lease extension? Comparable properties in Stone Cross with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2091
With 71 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
The conveyancing solicitors undertaking our conveyancing in Stone Cross has sent documents to review that reveal that the land is unregistered with epitome documents. How can it be that the property not registred at the Land Registry?
Whilst most properties in Stone Cross are now registered with HMLR there are still a few that are unregistered. Any property in Stone Cross that has been remortgaged since the late 1980’s will have been registered at the Land Registry under the compulsory ‘first registration’ scheme. However, if a Stone Cross property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Stone Cross conveyancing solicitors will be capable of dealing with this type of conveyancing but in the event that uncertainty exists the conventional recommendation presently seems to be for the seller to register it first and thereafter deal with the transfer to the buyer - this this chain of events will cause a drawn-out conveyancing.