I am buying a house mortgage free in Hook. I have resided for the previous dozen years in Hook. Conveyancing searches are exorbitant. As I know the area and road intimately must I have all the conveyancing searches?
In the absence of a mortgage, then almost all of the Hook conveyancing searches are at your discretion. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches completed, but she has a professional duty to take that path of advice. Do take into account; if you are going to dispose of the house in the future, it will likely be be of importance to your prospective purchaser what the searches reveal. There are plenty of instances where premises with no practical issues can still reveal detrimental search results. A competent conveyancing solicitor in Hook will provide you some practical advice concerning this.
Will conveyancers request money on account for my conveyancing in Hook?
Where you are retaining lawyers for conveyancing in Hook your solicitor will ask you put them with funds to cover the search fees. Normally this is called for to cover the fees of the conveyancing searches. When the deposit is as part of the total price then this should be asked for immediately in advance of contracts are exchanged. The final balance that is needed should be sent to your lawyer shortly before completion.
I have a renovated Georgian house in Hook. Conveyancing lawyer acted for me and The Royal Bank of Scotland. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hook and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing solicitor who conducted the conveyancing.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one close by in Hook I like with open areas and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Hook for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I am a negotiator for a busy estate agent office in Hook where we have witnessed a few flat sales derailed due to short leases. I have been given contradictory information from local Hook conveyancing firms. Can you confirm whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hook conveyancing firm to represent me?
if there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price.
An example of a Lease Extension decision for a Hook residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
A conveyancing company dealt with my conveyancing in Hook 8 years past having archived my deeds but has now closed – how do I retreive them?
Deeds, as such, no longer exist as most homes in Hook are registered electronically at Land Registry. Should you need to show ownership or are selling or re-mortgaging your conveyancer can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.