I am need of leasehold conveyancing for an apartment in a fairly new development (6 years built) in Hythe. 95% of the flats are already sold. Do I need carry out the conveyancing searches as part of conveyancing in Hythe?
You would be putting yourself at risk in not carrying out Hythe conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal necessity to have them, but we would seriously advise in no uncertain terms that your lawyer conducts them. Where time pressures and driving down costs are primary issues you should discuss with your lawyer about the options such as lack of search insurance available to you
Are all Hythe Conveyancing Quality Solicitors on the Santander conveyancing list of approved firms?
It is true that some banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
I am selling my house. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Yorkshire BS are being problematic. The Hythe solicitor who is on the Yorkshire BS conveyancing panel is recommending indemnity insurance as a solution but Yorkshire BS are insisting on a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
About to purchase apartment in Hythe. 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 Principality 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 Hythe solicitor is on the Principality conveyancing panel.
How does conveyancing in Hythe differ for new build properties?
Most buyers of new build or newly converted property in Hythe contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Hythe usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Hythe or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Hythe is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hythe are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hythe you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hythe may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I was recommended by numerous selling agents in Hythe to get a quote from a solicitor on your site. What’s the financial incentive for Estate Agents to market your site over and above alternative conveyancing organisations?
We don’t give any commission for sending work to this site. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
Planning to sign contracts shortly on a studio apartment in Hythe. Conveyancing lawyers have said that they will have a report out to me next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Hythe should include some of the following:
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Details of the parties to the lease, for example these could be the (you), superior lessor, landlord Repair and maintenance of the property What options are open to you if an adjoining owner is in violation of a provision in their lease? Advice as to the provision as set out in the lease to pay service charges - in respect of the block, and the wider rights a lessee has Where does the liability rest for maintaining the window frames
I inherited a ground floor flat in Hythe, conveyancing having been completed 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Hythe with an extended lease are worth £192,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2080
With 54 years left to run the likely cost is going to range between £32,300 and £37,400 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.