I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Heath Hayes with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
What can a local search inform me about the property my wife and I buying in Heath Hayes?
Heath Hayes conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations such as PSG The local search is essential in every Heath Hayes conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
five months have gone by following my purchase conveyancing in Heath Hayes completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Heath Hayes. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Heath Hayes
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There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
How does the Landlord & Tenant Act 1954 impact my commercial premises in Heath Hayes and how can you help?
The 1954 Act provides security of tenure to business tenants, giving them the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Heath Hayes is one of the numerous locations in which the firms we work with have offices
I've recently bought a leasehold house in Heath Hayes. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Heath Hayes Leasehold Conveyancing - A selection of Queries Prior to buying
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Many Heath Hayes leasehold properties will have a service bill for the upkeep of the block invoiced by the landlord. Where you purchase the apartment you will have to meet this charge, usually periodically accross the year. This could be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common areas. In all probability there will be a ground rent to be met yearly, this is usually not a large amount, say approximately £50-£100 but you need to check it because on occasion it could be many hundreds of pounds. This question is useful as a) areas can result in problems for the building as the common areas may begin to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the running of the building you will need to have all the details How much is the service charge and ground rent on the property?