We are purchasing a flat in Higham Wood. It might be a silly question but how we can trust a solicitor? On the day of competition we will need to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Planning on purchasing a apartment in Higham Wood. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Higham Wood conveyancing practitioner is on the Virgin Money conveyancing panel.
Nationwide have agreed my mortgage in principle, my bid on a apartment in Higham Wood has been agreed to, what happens next?
Your property agent will want to be informed of your conveyancer's details (make sure the conveyancers are on the lender’s panel). Contact Nationwide or the broker and complete any relevant forms. Nationwide will instruct a valuer who will get in contact with the selling agent or owners to schedule a time for the valuation to take place. Once conducted (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Nationwide will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Higham Wood.
three months have elapsed following my purchase conveyancing in Higham Wood concluded. 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 residence 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.
Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Higham Wood I like with amenity areas and station nearby, however it's only got 49 years on the lease. I can't really find anything else in Higham Wood suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I'm converting the mortgage on my current house to a BTL loan with Accord Mortgages Ltd and I will use the ballance of the raised equity towards another house. The location we are talking about is Higham Wood. Will your conveyancers be able to act for the two mortgage companies and link together the conveyances?
Make use of our search tool on this site to be sure that the conveyancers are approved by both mortgage companies. Assuming that they are the lawyer should be able to connect the two deals but you should have a chat with you solicitor and make clear your expectations and needs.
I only have Sixty One years left on my flat in Higham Wood. I now wish to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission 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 or your lawyers have used your best endeavours to find the landlord. For most situations an enquiry agent would be useful to carry out a search and to produce a report to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Higham Wood.
Leasehold Conveyancing in Higham Wood - Sample of Queries before buying
On the whole the cost for major works are not included within service charges, albeit that a few managing agents in Higham Wood ask leasehold owners to pay into a reserve fund created for the specific intention of building a fund for major repairs or maintenance. Who takes responsibility for maintaining and repairing the building? The answer will be important as a) areas could result in problems in the building as the communal areas may start to deteriorate if services are not paid for b) if the tenants have an issue with the managing agents you will wish to know about it
I have today placed an offer on a leasehold flat in Higham Wood and the mortgage adviser that we are using suggested his conveyancer. He quoted nine hundred pounds plus VAT and 3rd party costs. Does this sound expensive?
You should not rely on one quote. One should obtain like-for-like quotes for your conveyancing in Higham Wood. Then select one that you trust and just as important, is on the approved list of the lender that you are sourcing your mortgage from.