We are purchasing a new build flat in Hassocks and my solicitor is telling me that she has to the mortgage company to reveal incentives from the seller. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I purchased a freehold residence in Hassocks but still charged rent, why is this and what is this?
It is rare for properties in Hassocks and has limited impact for conveyancing in Hassocks but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
Is it the case that all Hassocks solicitor practices on the Nottingham conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
My husband and I are in the process of looking at flats in Hassocks and I am now considering a potential offer. Is it sensible to have my solicitor on ‘stand by’? I intend to finance via a home loan with Yorkshire BS.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are getting a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
The formalities of my purchase has taken place for my property in Hassocks. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Should our lawyer be making enquiries about flooding during the conveyancing in Hassocks.
Flooding is a growing risk for conveyancers specialising in conveyancing in Hassocks. There are those who buy a property in Hassocks, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, but there are a numerous checks that can be undertaken by the buyer or by their lawyers which will figure out the risks in Hassocks. The standard property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to determine whether the property has suffered from flooding. In the event that the residence has been flooded in past and is not notified by the seller, then a buyer may issue a legal claim for losses as a result of such an inaccurate reply. A buyer’s solicitors may also carry out an environmental search. This should indicate whether there is any known flood risk. If so, additional investigations will need to be made.
Due to the input of my in-laws I had a survey completed on a property in Hassocks before instructing solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some banks may refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hassocks. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hassocks to see if the conveyancing costs will increase in light of this.
There are only 62 years left on my flat in Hassocks. I now wish to get lease extension but my freeholder is missing. What are my options?
If 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 made all reasonable attempts to track down the freeholder. On the whole a specialist would be useful to try and locate and to produce an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Hassocks.
Hassocks Leasehold Conveyancing - Sample of Questions you should consider before buying
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Is anyone aware of any major works on the horizon that will add a premium to the maintenance fees? Best to be warned whether window replacement or some other major work is due in the near future that will be shared between the leasehold owners and could well dramatically increase the the service charges or require a specific payment. How long is the Lease?