I purchased my flat on 10 February and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Cross Keys advises it should be formalised in less than a month. Are transfers in Cross Keys particularly slow to register?
There is nothing unique about conveyancing in Cross Keys registration formalities. Rather than based on location, timeframes can differ subject to who lodges the application, whether it is in order and if the Land registry communicate with any other parties. At present roughly three quarters of such applications are completed within two weeks but occasionally there can be longer hold-ups. Registration is effected once the buyer has moved in to the premises thus post completion formalities is not always top priority yet if there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Cross Keys differ for new build properties?
Most buyers of new build residence in Cross Keys contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Cross Keys usually buy 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 conveyancers 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 accustomed to new build conveyancing in Cross Keys or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Cross Keys is the location of the property. What do you suggest?
Flying freeholds in Cross Keys are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cross Keys you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cross Keys 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 premises.
How straightforward is it to use your search facility to select a conveyancing practitioner in Cross Keys on the panel for my mortgage?
First choose a mortgage company such as Halifax, Virgin Money or Alliance & Leicester then type in your preferred area for instance Cross Keys. Conveyancing practices in Cross Keys and beyond should be shown.
I work for a busy estate agency in Cross Keys where we have witnessed a few leasehold sales put at risk due to leases having less than 80 years remaining. I have been given contradictory information from local Cross Keys conveyancing firms. Please can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Cross Keys Leasehold Conveyancing - Sample of Questions you should consider before Purchasing
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Is anyone aware of any major works in the near future that will likely increase the maintenance fees? What is the the remaining lease term?
I'm purchasing a bungalow in Cross Keys. I can find my conveyancer's company on the Law Society's list, but I can't locate my conveyancer's name on the list. Is this a big problem?
Not every individual in the law firm must be listed by the regulator. Provided there is someone qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unlicensed staff.