It is a dozen years since I purchased my house in Lakenheath. Conveyancing solicitors have just been appointed on the sale but I can't locate my title documents. Is this a major issue?
Don’t worry too much. Firstly there is a possibility that the deeds will be retained by your lender or they could be in the possession of the lawyers who handled your purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in Lakenheath involves registered property but in the rare situation where your property is not registered it is more problematic but is resolvable.
Have purchased a a terraced house in Lakenheath , What is the estimated time for the Land Registry to register my title? My Lakenheath conveyancing solicitor has been very slow, so I want to be sure the registration is addressed.
As far as conveyancing in Lakenheath is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can adjust according to the party submitting the application, whether it is in order and whether the Land registry communicate with any 3rd parties. At present roughly three quarters of such applications are completed within two weeks but occasionally there can be longer hold-ups. Historically registration occurs after the new owner has moved in to the property therefore registration formalities is not usually primary concern but where there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Lakenheath differ for new build properties?
Most buyers of new build property in Lakenheath come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because builders in Lakenheath usually acquire the real estate, 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 conveyancers 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 Lakenheath or who has acted in the same development.
How do I locate a Lakenheath law firm on the Aldermore conveyancing panel? I am a keen cyclist and am prepared to travel upto 20miles to meet the lawyer.
You can use the search on this page. Please pick a mortgage company and your location and you will see a number of Lakenheath conveyancing lawyers based on proximity. We have listed some Lakenheath conveyancing firms at the bottom of this page and you can call them to verify if they are on the Aldermore panel
I am a negotiator for a reputable estate agent office in Lakenheath where we see a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Lakenheath conveyancing firms. Can you confirm whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that 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. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Lakenheath Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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Does this lease have more than 90 years remaining? Please note that where the lease has less than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of what this would cost. Remember, in most cases you will need to own the premises for two years before you are entitled to extend the lease.
A couple of months ago I was advised by my mortgage company that their panel lawyers operate no move no charge basis for conveyancing in Lakenheath. My purchase aborted yet the lawyers have invoiced for search fees! They are stating that the fees are seperate!
By offering "no completion no fee" Lakenheath conveyancing lawyers are writing off their charges for any work done. We must stress this is not to be regarded as an insurance scheme. Disbursements aren’t covered – where the conveyancing practitioner have to pay money out to third parties, for example Lakenheath local search fees