Is the fact that my solicitor in Hellesdon is not on my lender's solicitor panel that there is a problem with the standard of his work?
That would most likely be an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Hellesdon conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
Should commercial conveyancing searches reveal planned roadworks that may impact a commercial site in Hellesdon?
Its becoming the norm that commercial conveyancing solicitors in Hellesdon will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Hellesdon. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hellesdon.
For each commercial conveyancing transaction in Hellesdon it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Hellesdon commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Hellesdon.
I am buying a new build flat in Hellesdon. Conveyancing is daunting 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 legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hellesdon
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision.
I decided to have a survey done on a property in Hellesdon prior to retaining conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor advised that some lenders may refuse to issue a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hellesdon. Conveyancing will be smoother if you use a solicitor in Hellesdon especially if they are acquainted with such properties in Hellesdon.
I am using a search engine for the term conveyancing in Hellesdon it reveals many property lawyersin the area. With so much choice what is the best way to find the suitable property lawyer for purchase transaction?
The preferential way of choosing a suitable conveyancer is via personal recommendation, so seek the counsel of friends and those you trust who have bought a property in Hellesdon or a local estate agent or mortgage broker. Fees for conveyancing in Hellesdon vary, so it's advisable to request a minimum of four fee estimates from different solicitors. Make sure that you clarify what costs in the quote includes.
Do you have any top tips for leasehold conveyancing in Hellesdon from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hellesdon can be bypassed where you instruct lawyers the minute you market your property and request that they start to put together the leasehold information needed by the buyers’ conveyancers. The majority of landlords or Management Companies in Hellesdon charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Hellesdon. If you hold a share in a the freehold, you should make sure that you are holding the original share document. Arranging a replacement share certificate can be a time consuming process and slows down many a Hellesdon conveyancing transaction. If a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible. You may think that you are aware of the number of years left on your lease but it would be advisable verify this via your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unresolved.
Hellesdon Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
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How many years are left on the lease? Where a Hellesdon lease has fewer than eighty years it will have adverse implications on the value of the apartment. Check with your bank that they are content with the length of the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you would need to own the property for two years before you are eligible to extend the lease.