We are buying a newly constructed flat in Aigburth and my conveyancer is informing me that she has to the mortgage company to reveal incentives from the seller. I am on a tight deadline to exchange contracts and I have no desire to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I completed on my flat on 4 June and the transaction details are still not registered. Should I be concerned? My conveyancing solicitor in Aigburth advises it would be registered inside ten days. Are properties in Aigburth particularly slow to register?
There is nothing unique about conveyancing in Aigburth registration formalities. As opposed to being determined by geographic area, timescales can adjust subject to who lodges the application, whether there are errors and if the Land registry need to notify any other persons or bodies. Currently in the region of three quarters of submission are fully addressed within two weeks but some can be subject to extensive hold-ups. Historically registration is effected once the new owner is living at the premises therefore 'speed' is not typically top priority but if there is a degree of urgency associated with the registration then you or your lawyers could speak with the land registry and explain the circumstances.
I am buying a new build apartment in Aigburth. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Aigburth
-
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared.
I opted to have a survey carried out on a house in Aigburth ahead of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some banks will refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Aigburth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Aigburth to see if the conveyancing will be more expensive.
I need to find a conveyancing solicitor for remortgage conveyancing in Aigburth. I have discover a web site which seems to have the ideal offering If it is possible to get all the legals done via email that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any top tips for leasehold conveyancing in Aigburth from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Aigburth can be avoided if you instruct lawyers as soon as you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Aigburth leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord consenting to such changes. If you fail to have the approvals in place do not communicate with the landlord without contacting your conveyancer first. If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Arranging a replacement share certificate can be a lengthy process and slows down many a Aigburth conveyancing transaction. If a new share certificate is required, you should approach the company officers or managing agents (if relevant) for this sooner rather than later. Some Aigburth leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers.
Aigburth Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
-
The majority of Aigburth leasehold apartments will be liable to pay a service bill for the upkeep of the building levied on behalf of the landlord. If you acquire the flat you will have to meet this charge, normally in instalments throughout the year. This could vary from a few hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge to be met yearly, this is usually not a significant sum, say about £25-£75 but you should to check as sometimes it could be many hundreds of pounds. It would be prudent to investigate if the the lease includes any unreasonable restrictions in the lease. For example it is fairly common in Aigburth leases that pets are not permitted in certain buildings in Aigburth. If you like the flatin Aigburth yet your dog can’t make the move with you then you will be faced difficult choice. Best to be warned whether changing the roof or some other major work is anticipated that will be shared between the leasehold owners and could well dramatically impact the level of the maintenance costs or require a specific payment.