I require fast conveyancing in Hassocks as I have an ultimatum to sign on the dotted line in less than 2 weeks. Thankfully I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?
If.Given you are not taking a mortgage you have the choice not to have searches conducted although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Hassocks the following are examples of issues that can show up and adversely impact the marketability of the property: Enforcement Actions, Outstanding Charges, Overdue Grants, Unadopted Roads,...
I'm purchasing a new build house in Hassocks benefiting from help to buy. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not disclose to my lawyer about the side-deal as it will affect my loan with Birmingham Midshires. Is this normal?.
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.
Due to the input of my in-laws I had a survey completed on a house in Hassocks before retaining conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies tend refuse to issue a loan on a flying freehold premises.
It varies from the lender to lender. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hassocks. Conveyancing will be smoother if you use a solicitor in Hassocks especially if they are acquainted with such properties in Hassocks.
Am I right to be concerned by brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Hassocks conveyancing company?
As with many service providers, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are many people with a keen interest in a conveyancing transaction; estate agents, financial adviser and lenders might all put forward conveyancers to select. Sometimes these conveyancers might be known to one of the organisations as being good in their field, but occasionally there might be a financial incentive behind the recommendation. You are free to select your preferred lawyer. You need to be aware that the majority of banks have an approved list of solicitors you are obliged to use for the lender aspect of your conveyancing.
I have recently realised that I have 72 years left on my lease in Hassocks. I now wish to get lease extension but my landlord is missing. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to prove that you have done all that could be expected to locate the lessor. For most situations an enquiry agent would be helpful to try and locate and to produce a report which can be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the vesting order request to the County Court overseeing Hassocks.
I purchased a 1 bedroom flat in Hassocks, conveyancing was carried out April 2003. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Hassocks with a long lease are worth £185,000. The ground rent is £65 yearly. The lease expires on 21st October 2085
With just 60 years unexpired the likely cost is going to span between £20,000 and £23,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Why do Hassocks conveyancing costs are more expensive for leasehold and freehold properties?
If buying a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control