AssumingI was to buy a freehold housein Hythe mortgage fee and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Hythe?
Any savings you would make would be isolated to the costs for searches. The solicitor is obliged to do the vast majority of work - money laundering, liaising with your vendors property lawyer, SDLT return, register the property etc. You might save a bit for them not needing to register a mortgage however it won't be a lot.
My grandfather passed away last year and as sole heir and executor I was left the property in Hythe. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I am helping my niece sell her property in Hythe. Will the conveyancer arrange the energy assessment or it is for the seller to coordinate?
After the demise of Home Information Packs, EPC’s became a compulsory element of moving property. An energy performance certificate needs to be commissioned before the property is advertised. This is not a task that lawyers normally organise. If you are instructing a Hythe conveyancing lawyer they might be able to arrange EPC’s due to their contacts with reputable local providers
I am buying a terrace house in Hythe. Our aim is to an extension at the rear at the house.Will the conveyancing process include enquiries to determine if these alterations were previously refused?
Your property lawyer will check the deeds as conveyancing in Hythe can occasionally identify restrictions in the title documents which prohibit certain changes or need the permission of a 3rd party. Many extensions need local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I am selling my flat. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being a right pain. The Hythe solicitor who is on the Virgin Money conveyancing panel is recommending indemnity insurance as a solution but Virgin Money are requiring 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.
I am buying a new build flat in Hythe. Conveyancing is necessary evil 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 conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Hythe
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
My husband and I are 17 days into a freehold purchase having been directed to conveyancers by the estate agent to do our conveyancing in Hythe. I am not happy. Could you help me find new solicitors?
A conveyancer would need to be really poor in order to consider replacing them. Has your mortgage offer been issued? If so you need to inform them of the new conveyancer and ensure the loan are re-issued. Your new conveyancer needs to be on the lenders approved list to avoid supplemental expenses and delays. That should be your starting point. The find a solicitor tool will assist you in finding a lender approved lawyer for your home move in Hythe
I am tempted by the attractive purchase price for a couple of apartments in Hythe both have in the region of 50 years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Hythe is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. The majority of buyers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Hythe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I acquired a 2 bed flat in Hythe, conveyancing having been completed in 1996. Can you work out an approximate cost of a lease extension? Similar flats in Hythe with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease runs out on 21st October 2095
With only 74 years remaining on your lease we estimate the price of your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.