My partner and I are buying a newly constructed apartment in Kirkby and my solicitor is informing me that she is duty bound to the lender to reveal incentives from the seller. I am on a tight deadline to exchange contracts and I would rather not delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Kirkby?
There are many registered licenced Conveyancers in Kirkby and Solicitor partnerships in Kirkby offering conveyancing We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. Both can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We were going to get a AIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Kirkby solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Kirkby solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I have finally had an offer on a flat in Kirkby agreed to, the owners do nevertheless have a tied purchase. The vendors have offered on a flat, but it’s not yet tied up, and are looking at other apartments booked. I have selected a bricks and mortar conveyancing solicitor in Kirkby. What should be my next step? When should I get the mortgage application with Co-operative going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx £1k, then valuation, Kirkby conveyancing search costs, etc). The first course of action is to ensure that your conveyancer is on the Co-operative conveyancing panel. Regarding the next steps this very much depends on the specifics of your transaction, desire for the property and on the state of the market. In a buoyant market the majority of buyers would apply for the mortgage with Co-operative and arrange for the valuation and only if it was satisfactory would they request their conveyancer to move forward with the conveyancing in Kirkby.
I have a semi-detached Georgian property in Kirkby. Conveyancing lawyer acted for me and TSB. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same address. Is it worth asking TSB to clarify?
You need to assess the Freehold register you have again and check the Charges Register for 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 Kirkby 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 purchasers. You can also check the situation with the conveyancing solicitor who completed the work.
Just had an offer accepted on a new build flat in Kirkby. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Kirkby
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Kirkby is the location of the property. Can you shed any light on this issue?
Flying freeholds in Kirkby are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kirkby you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kirkby may decide 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 residence.
What advice can you give us when it comes to appointing a Kirkby conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Kirkby conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Kirkby conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
Can they put you in touch with clients in Kirkby who can give a testimonial? How experienced is the practice with lease extension legislation?
Kirkby Leasehold Conveyancing - Sample of Queries Prior to buying
Is the freehold reversion owned collectively by the leaseholders? Please inform me if there are any major works on the horizon that could increase the maintenance charges?