Why is leasehold purchase conveyancing in Hockley Heath is more expensive?
Hockley Heath leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I purchased my apartment on 1 July and my personal details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Hockley Heath advises it would be dealt with inside ten days. Are titles in Hockley Heath particularly slow to register?
As far as conveyancing in Hockley Heath is concerned, registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary according to who lodges the application, whether it is in order and if the Land registry need to notify any other parties. Currently roughly 80% of such applications are fully addressed in less than three weeks but some can be subject to extensive hold-ups. Registration takes place once the new owner has moved in to the property thus an expedited registration is not typically primary concern but if there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I'm buying my first flat in Hockley Heath with a loan from Accord Mortgages Ltd. The sellers would not budge the amount so I negotiated £7000 of extras instead. The estate agent advised me not inform my solicitor about the side-deal as it will put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My father-in-law has suggested that I appoint his lawyers for conveyancing in Hockley Heath. Should I use them?
Much as we are happy to recommend a Hockley Heath conveyancing lawyer the ideal way to select a conveyancing practitioner is to get guidance from friends or relatives who have actually used the conveyancer that you are contemplating using.
Back In 2001, I bought a leasehold house in Hockley Heath. Conveyancing and Alliance & Leicester mortgage organised. I have received a letter from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Hockley Heath who previously acted has long since retired. What should I do?
First contact the Land Registry to make sure that this person is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Hockley Heath conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Hockley Heath - Examples of Questions you should ask before Purchasing
-
What is the the remaining lease term? Please note that where the lease has no more than 80 years it will impact the salability of the apartment. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out what this will be. For most Hockley Heathlease extensions you will be required to have owned the residence for two years in order to be entitled to extend the lease. It is important to be aware if changing the roof or some other significant cost is due in the near future to be shared by the leasehold owners and will materially impact the level of the maintenance charges or require a one time payment.
I have today had an offer accepted on an apartment in Hockley Heath and the broker that we are using suggested his property lawyer. She quoted nine hundred pounds excluding VAT and 3rd party costs. Does this sound expensive?
Don't just go on one estimate. One should seek like-for-like quotes for your conveyancing in Hockley Heath. Then select one that you are comfortable with and just as important, is on the approved list of the bank that you are sourcing your mortgage from.