I purchased a terraced Georgian house in Gorton. Conveyancing lawyer represented me and Barclays . I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should 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 Gorton and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing practitioner who conducted the work.
I'm buying a new build house in Gorton with a mortgage from Leeds Building Society. The developers would not reduce the price so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my lawyer about the side-deal as it would put at risk my mortgage with Leeds Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Gorton is where the house is located. Is there any advice you can give?
Flying freeholds in Gorton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Gorton you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Gorton may decide 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 property.
My cousin has urged me to appoint his conveyancing solicitors in Gorton. Do I follow his guidance?
Much as we are happy to recommend a Gorton conveyancing lawyer the ideal way to find a conveyancing lawyer is to get referrals from friends or relatives who have previously instructed the firm you're are thinking of instructing.
I am a negotiator for a long established estate agent office in Gorton where we have witnessed a few flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Gorton conveyancing firms. Please can you shed some light as to whether the seller of a flat can commence the lease extension process for the buyer?
Provided that the seller has been the owner 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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.
I own a leasehold flat in Gorton, conveyancing having been completed 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Gorton with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2077
With 53 years remaining on your lease the likely cost is going to span between £27,600 and £31,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
I have just started marketing my garden apartment in Gorton.Conveyancing solicitors are to be appointed soon but I have recently had a half-yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as usual because all rents and service charges will be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially