It is is a decade since I bought my property in Studley. Conveyancing lawyers have just been retained on the sale but I can't find the deeds. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be with your lender or they could still be with the solicitor who handled the purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Studley relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
we are a couple who wish to acquire a newbuild flat in Studley with a loan from Aldermore.We have a Studley conveyancing lawyer but Aldermore informed us her practice is not listed on their "panel". we are left little option but to use a Aldermore panel firm or retain our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan offered to you contains terms and conditions, one of which will be that conveyancers must be on the Aldermore solicitor panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Aldermore
My bid for a property was accepted at auction in Studley. Conveyancing is necessary. What are my next steps?
Now that you are legally bound yourself to purchase you will need to appoint a conveyancing practitioner quickly as you are facing a pending a drop dead date to complete the purchase. All auction property should have a corresponding legal set of papers. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the legal pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You should hand this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in place to complete on the date specified in the contract.
I have a mortgage with Nationwide for my property in Studley. Conveyancing has been completed a year 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 BTL mortgage or inform Nationwide?
Nationwide must be informed of your intention in advance of letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide 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 Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel lawyer.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Studley solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Studley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one near me in Studley I like with a park and station nearby, however it's only got 52 years on the lease. There is not much else in Studley suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I am looking into buying my first house which is in Studley and I am already nervous. I couldn't find anything specific about Studley. Conveyancing will be needed in due course but do you know about the Studley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Studley. In the meantime here are some basic statistics that we found