I own a semi-detached Victorian house in Godmanchester. Conveyancing practitioner represented me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Godmanchester and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing solicitor who carried out the work.
How does conveyancing in Godmanchester differ for new build properties?
Most buyers of new build premises in Godmanchester come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is built. This is because new home sellers in Godmanchester usually acquire the land, 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 used to new build conveyancing in Godmanchester or who has acted in the same development.
Is it simple use your search tool to get a fee calculation from a conveyancing solicitor in Godmanchester on the authorised to act for my bank?
Step one is to choose a bank such as Barclays , The Royal Bank of Scotland or Godiva Mortgages Ltd then choose your location e.g. Godmanchester. Conveyancing firms in Godmanchester and across England and Wales should be shown.
Am I better off to use a Godmanchester conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can perform the legal work but they are based 300kilometers drive away.
The primary upside of using a high street Godmanchester conveyancing practice is that you can attend the office to sign paperwork, present your ID and pester them if necessary. They will also have local knowledge which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were happy that must trump using an unfamiliar Godmanchester conveyancing lawyer just because they are Godmanchester based.
Expecting to complete next month on a garden flat in Godmanchester. Conveyancing solicitors inform me that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Godmanchester should include some of the following:
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Your lawyers should enable you to have an understanding of the building insurance provisions Does the lease prevent you from letting out the flat, or having a home office for business Whether your lease has a provision for a reserve fund? What remedies are open the freeholder should you are in breach of your lease terms? You should know whether the lease allows you to add or upgrade anything in the property- you must know whether it relates to all alterations or limited to structural alteration, and whether licences for alterations is required
Godmanchester Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
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It is important to be aware if fixing the lift or some other major work is pending that will be shared by the leaseholders and will materially increase the the service charges or necessitate a one off payment. Generally speaking the cost for major works are not built into the service charges, albeit that a few managing agents in Godmanchester ask leasehold owners to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. If a Godmanchester lease has less than 80 years it will have adverse implications on the marketability of the apartment. It is worth checking with your bank that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and it is worth discovering how much this would cost. For most Godmanchesterlease extensions you would need to own the property for two years in order to be legally able to carry out a lease extension.
When it comes to my conveyancing in Godmanchester should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Godmanchester conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.