I am in a contract race with another buyer for a property in Grantham. What can I do to speed up matters?
In a situation where you are under pressure to sign contracts we would recommend that your lawyer is familiar with the area as they will make use of local contacts and insight. It is even conceivable that they may have conducted otherproperties in the same neighbourhood. You would be best advised to use a Grantham conveyancing firm. In addition, make sure that the lawyer is on the lender panel. It is estimated that nearly one in five of Grantham conveyancing deals are suspended or jeopardised after finding out that a purchaser’s lawyer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the transaction being held up by as much as three weeks. It is claimed that this issue impacts approximately 100,000 home sales every year. Most Grantham conveyancing practices can not represent certain banks so do check as early as possible.
We note that you have a search directory listing solicitors on the RBS conveyancing panel. Do firms pay you a referral fee if I instruct them for our conveyancing in Grantham?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Grantham.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Grantham I like with open areas and transport links in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Grantham in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Am I right to be suspicious by third parties that I am dealing with are recommending an online conveyancing firm as opposed to a local Grantham conveyancing practice?
As with many professional services, often input from relatives can be most helpful. But there are lots of players in a conveyancing matter; estate agents, financial adviser and mortgage companies may recommend conveyancers to instruct. Sometimes the solicitors might be known to one of the organisations as being good in their field, but sometimes there is an underlying commercial relationship behind the endorsement. You are free to appoint your preferred lawyer. However, bear in mind that the majority of mortgage providers specify a panel list of solicitors you are obliged to use for the mortgage aspect of your house move.
My wife and I purchased a leasehold flat in Grantham. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Grantham who previously acted has long since retired. What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to incur the fees of a Grantham conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Grantham Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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The majority of Grantham leasehold apartments will be liable to pay a service charge for the upkeep of the building set on behalf of the freeholder. Should you purchase the property you will have to meet this contribution, normally quarterly throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all likelihood there will be a rentcharge for you to pay yearly, this is usually not a exorbitant sum, say about £50-£100 but you need to check as sometimes it can be many hundreds of pounds. Please inform me if there are any major works in the near future that could increase the maintenance charges? Make sure you discover if there are any onerous prohibitions in the lease. By way of example it is fairly common in Grantham leases that pets are not allowed in in a block in Grantham. If you like the apartmentin Grantham yet your cat is not allowed to live with you then you will be presented with a hard choice.
We are in the process of buying a property in Grantham. Can the conveyancing practitioner have our purchase price confidential from the likes of Zoopla. How could this be done?
HM Land Registry by statute are bound to note price paid data on the official title for residential properties nationwide including properties in Grantham. The register of ownership is an open document, so the Land Registry would be breaching their statutory obligations excluded specific properties such as your one in Grantham.
In essence you can ask HMLR to withhold the amount paid data yet the answer would be in the negative.