I can't travel far from Great Linford. What is the rationale as to why all Great Linford lawyers aren't automatically on all lender panels?
Before the recession most mortgage companies had an attitude to risk which is different than today. The financial regulator in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the conveyancing practitioners on your panel. As a result, mortgage companies have subsequently looked to extract more information from law firms concerning their operations and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum amount of transactions the lenders set.
Why is leasehold purchase conveyancing in Great Linford costs more?
Great Linford leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My grandfather passed away last year and as sole heir and executor I was left the house in Great Linford. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this possible?
If you plan to refinance then Nationwide will insist on your using a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.
I am looking for a flat up to £245,000 and identified one round the corner in Great Linford I like with open areas and railway links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Great Linford suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan that many years will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
My husband and I are a couple of weeks into a residential purchase having been directed to a firm by the estate agent to handle our conveyancing in Great Linford. I am not happy. Could you you assist me in finding new lawyers?
A solicitor would have to be really bad to suggest replacing them. Has the loan offer been generated? If so you need to make them aware of the new contact details and have the offer are re-issued. Your new solicitor ideally needs to be on the lenders approved list to avoid added fees and delays. That should be your first question of the new conveyancers. The find a solicitor tool will assist you in finding a lender approved lawyer for your conveyancing in Great Linford