Finally the sale completed on my house in Custom House last April but our buyer keeps Skype messaging daily to say his conveyancer is waiting to hear from mysolicitor. What should have happened now that I have sold?
After completion of your sale your lawyer should deliver the transfer documentation and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer should also evidence that the home loan has been discharged to the purchasers conveyancers. There are no post completion requirements just for conveyancing in Custom House.
Have just purchased a probate house at auction in Custom House. Conveyancing is needed. What happens now?
Given that you are now legally committed yourself to purchase you now have to instruct a conveyancing lawyer as a matter of priority as you are facing a pending a fixed date to complete the conveyancing. Every auction property will have a corresponding auction set of papers. This will include most,if not all of the documents that your solicitor will need. Where you are dealing with leasehold property the auction pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that you have funds organised to complete on the on the contractual date .
I have decided to exercise my right to buy my property in Custom House off the council. I have a mortgage offer with Yorkshire BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Custom House bank branch on numerous occasions and was told they are content with the situation and they would lend. My Custom House conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their published requirements. Who do I believe?
Provided that the conveyancer is on the lender approved list, she or he must follow the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
How does conveyancing in Custom House differ for newly converted properties?
Most buyers of new build premises in Custom House come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Custom House tend to 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 property lawyers 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 Custom House or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and found one close by in Custom House I like with amenity areas and station nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Custom House suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450,000 flat in Custom House next week. The freeholder has quoted £300 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Custom House?
Custom House conveyancing on leasehold apartments usually necessitates the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries most will be willing to assist. They are at liberty to charge a reasonable administration fee for answering questions or supplying documentation. There is no set fee. The average costs for the paperwork that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. In reality one has no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
Despite our best endeavours, we have been unsuccessful in trying to reach an agreement for a lease extension in Custom House. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to judgment on the premium.
An example of a Lease Extension matter before the tribunal for a Custom House premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired term as at the valuation date was 69.77 years.
How easy is it to change a solicitor as I need to find a Custom House based conveyancer who is on the lender conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet appointed a conveyancer to commence the conveyancing and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Custom House that you're thinking of instructing.