My wife and I are purchasing a apartment in Sutton Coldfield. I might seem paranoid but how we can trust a solicitor? At some point we will need to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with Aldermore. I assume I don't need a Sutton Coldfield lawyer on the Aldermore panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore 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 Aldermore mortgage from the register. Aldermore, 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 Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
The mortgage over my property is with Principality for my property in Sutton Coldfield. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval before letting out your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Principality directly. You need not do this via a Principality conveyancing panel solicitor.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Sutton Coldfield?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Sutton Coldfield. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Sutton Coldfield differ for newly converted properties?
Most buyers of new build premises in Sutton Coldfield contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because developers in Sutton Coldfield usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sutton Coldfield or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and found one round the corner in Sutton Coldfield I like with open areas and transport links nearby, however it only has 52 years on the lease. There is not much else in Sutton Coldfield in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
We recently found out that one of the partners of the law firm undertaking the purchase conveyancing in Sutton Coldfield is is the father of the seller. Is this permitted?
On the basis that there is no conflict of interest this is permitted. Where you are obtaining a home loan then the lender may have a say as many mortgage companies have specific instructions concerning this. For example for Clydesdale Bank as of 22/7/2021, the requirements read as follows :