Completed the sale of my flat in Leighton Buzzard last August but our buyer keeps whats apping every few hours to moan that his solicitor needs to hear from mine. What are the post completion sale formalities following completion?
Following your disposal your lawyer should forward the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. Depending on the transaction, your lawyer should also evidence that the mortgage has been redeemed to the purchasers lawyers. There are no post completion requirements peculiar conveyancing in Leighton Buzzard.
Our bank has suggested solicitors on their panel based in Leighton Buzzard but I would rather choose a conveyancing lawyer in Leighton Buzzard round the corner to me. Are you able to help?
Not all Leighton Buzzard conveyancing solicitors are listed all lender’s conveyancing panel. Do make the most of the above find an approved solicitor tool to choose a Leighton Buzzard conveyancing solicitor on the on the bank panel.
I have a renovated Edwardian house in Leighton Buzzard. Conveyancing practitioner represented me and Skipton Building Society. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read 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 Leighton Buzzard and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing solicitor who conducted the conveyancing.
I am purchasing my first flat in Leighton Buzzard with the aid of help to buy. The sellers would not reduce the amount so I negotiated £7000 of additionals instead. The sale representative suggested that I not inform my lawyer about this deal as it may impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Leighton Buzzard ahead of instructing solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some banks will refuse to grant a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Leighton Buzzard. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a busy estate agency in Leighton Buzzard where we have experienced a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Leighton Buzzard conveyancing solicitors. Could you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
Leasehold Conveyancing in Leighton Buzzard - Sample of Queries before buying
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Please note that where the lease has fewer than eighty years it will have adverse implications on the salability of the apartment. Check with your bank that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out what this will be. For most Leighton Buzzardlease extensions you would need to own the residence for a couple of years in order to be legally able to carry out a lease extension. Best to be warned whether fixing the lift or some other major work is due shortly that will be shared between the tenants and will dramatically impact the level of the service fees or result in a specific payment. Who takes responsibility for maintaining and repairing the block?