Recently been in touch with my conveyancing solicitor in Hayle who acted for me 18 months ago asking for a conveyancing estimate based on the same type of house sale & purchase (a leasehold premises and a freehold premises) of almost identical values with a mortgage from Nationwide Building Society. I am now being charged twice the amount. Am I right to be tempted to shop around for an alternative conveyancer?
The quote is fractionally on the expensive side. Where you are prepared to expend time comparing prices you could reduce the fees marginally by say £100 plus VAT. On the other hand, providing that you were happy with the conveyancing the firm provided you couldlive to regret choosing an a cheaper solicitor. Don't forget to enquire the solicitor can represent Nationwide Building Society. You can make use of our search tool to locate a Hayle conveyancing firm on the Nationwide Building Society member panel, which can often include conveyancing solicitors in Hayle.
My Hayle lawyer has discovered a discrepancy when comparing the assumptions in the valuation survey and what is in the title deeds. My lawyer has advised that he must ensure that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Are there restrictive covenants that are commonly picked up during conveyancing in Hayle?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hayle. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Hayle differ for new build properties?
Most buyers of new build or newly converted property in Hayle approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Hayle usually buy 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 conveyancers 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 accustomed to new build conveyancing in Hayle or who has acted in the same development.
I'm remortgaging my existing property to a BTL mortgage with Halifax and intend to use the remaining equity as a deposit on another house. The area we are talking about is Hayle. Will your lawyers be able to act for the two lenders and tie in the transactions?
Make use of our search tool on this page to ensure that the lawyers are on the appropriate lender panels. Assuming that they are your conveyancer should be able to connect the two conveyancing matters but you should talk with you lawyer and specify your desired outcome and needs.
I am employed by a busy estate agent office in Hayle where we see a number of leasehold sales jeopardised due to short leases. I have been given contradictory information from local Hayle conveyancing solicitors. Can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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 buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.
Leasehold Conveyancing in Hayle - Sample of Questions you should ask Prior to Purchasing
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Is anyone aware of any major works on the horizon that will add a premium to the maintenance fees? The prefered form of lease structure is a share of the freehold. In this situation the leaseholders enjoy being in charge if their destiny and although a managing agent is usually retained if the building is larger than a house conversion, the managing agent is directed by the tenants.