Why do I have to pay up front for my conveyancing in Hunstanton?
Where you are retaining lawyers for conveyancing in Hunstanton your lawyer will ask you place them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the total price then this should be required shortly prior to contracts are exchanged. Any further balance that is needed will be payable shortly before completion.
We are getting the release of further funds on our home loan from TSB as we wish to carry out a loft conversion to our house in Hunstanton. Are we obliged to select a nearby Hunstanton solicitor on the TSB conveyancing panel to deal with the paperwork?
TSB would not normally instruct a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB conveyancing panel.
I currently have a mortgage with Yorkshire BS for my property in Hunstanton. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval before letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel lawyer.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Virgin Money are being problematic. The Hunstanton solicitor who is on the Virgin Money conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Virgin Money are insisting on a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Hunstanton. 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Hunstanton
Please confirm the Lease plans are surveyor prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
How does the Landlord & Tenant Act 1954 affect my business offices in Hunstanton and how can your lawyers assist?
The 1954 Act gives security of tenure to commercial tenants, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Hunstanton is one of our numerous areas of the UK in which our lawyers have offices
My wife and I purchased a leasehold house in Hunstanton. Conveyancing and The Mortgage Works mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Hunstanton who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Hunstanton conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Hunstanton Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
Many Hunstanton leasehold flats will be liable to pay a service charge for the upkeep of the block invoiced by the freeholder. If you buy the apartment you will have to meet this liability, normally quarterly throughout the year. This may be anything from several hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a rentcharge for you to pay yearly, ordinarily this is not a exorbitant sum, say around £25-£75 but you should to check as occasionally it can be prohibitively expensive. Is the freehold reversion owned collectively by the tenants? Does the lease have onerous restrictions?
Sixweeks into buying a property in Hunstanton. Conveyancing lawyer has told us the property is "Leasehold". Should this make a difference on the marketability of the house?
Hunstanton conveyancing does not ordinarily involve leasehold houses. The crucial factor here is the unexpired lease term and the ground rent. If there are over a hundred years remaining with a nominal rent, it's almost the same as freehold, so it’s unlikely to impact the marketability significantly.
At the other end of the spectrum, if it's, say, fifty five years it will have a adverse effect on the value, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be stated in the lease provided to your conveyancer.