I have given 8 weeks notice to my existing landlord and must leave my let out flat in Lifton by 30/5/2024. Conveyancing on my purchase is progressing. Can I complete in six weeks as I wish to avoid having to find temporary accommodation?
Generally one should not give notice on a rental unless your lawyer suggests that you should. If you have not already done so, speak to your lawyer and ask them to they chase the other lawyers, try to a target completion date that everyone will work to achieve
As a novice what is the most important advice you can impart regarding purchase conveyancing in Lifton?
You may not hear this from too many lawyers but conveyancing in Lifton and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there exists lots of opportunity for confrontation between you and others involved in the transaction. For example, the vendor, property agent and even potentially the mortgage company. Choosing a solicitor for your conveyancing in Lifton should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the process whose responsibility is to look after your best interests and to protect you.
Sometimes a potential adversary may attempt to sway you that it is in your interests to do things their way. For instance, the property agent may claim to be helping by suggesting your conveyancer is slow. Or your financial adviser may try to convince you to do take action that is against your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I am assisting my mother sell her flat in Lifton. Will the conveyancing solicitor arrange an EPC or it is for the owner to see to?
Following the demise of Home Information Packs, EPC’s was left as a mandatory part of selling a house. An energy performance certificate needs to be to hand before the property is advertised. This is not a task that law firms ordinarily organise. Where you are instructing a Lifton conveyancing lawyer they may help arrange energy assessments given their relationships with reputable local assessors
Have just purchased a repossessed house at auction in Lifton. Conveyancing is required. What are my next steps?
Now that you are exchanged you should retain a conveyancing practitioner as a matter of priority as you now have a fast approaching a drop dead date to complete the property. All auction property will ordinarily have an associated legal set of papers. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You must pass this on to the conveyancer working for you at the earliest opportunity. You also need to ensure that your finances are in place to complete the transaction on the set completion date.
Santander have agreed my home loan in principle, my offer on a apartment in Lifton has been agreed to, now what?
Your property agent will want to know who your solicitors are (ensure that the conveyancing practitioners are on the lender’s approved list). Call up Santander or the financial adviser and complete any appropriate documentation. Santander will appoint a valuer who will get in touch with the estate agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes about ten days to get a mortgage offer. Santander will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Lifton.
Just bought a detached house in Lifton , how long should it take for the Land Registry to register my proprietorship? My Lifton conveyancing solicitor has been very slow, so I want to check that my purchase is registered.
As far as conveyancing in Lifton registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can vary according to the party submitting the application, whether there are errors and whether the Land registry have to notify any other persons or bodies. At present in the region of 80% of such applications are fully dealt with within two weeks but some can be subject to extensive hold-ups. Registration occurs once the purchaser has moved in to the premises so post completion formalities is not always an essential issue yet if there is a degree of urgency associated with the registration then you or your solicitor could contact the land registry and explain the circumstances.
I'm buying a new build house in Lifton benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of extras instead. The estate agent suggested that I not disclose to my lawyer about the extras as it will jeopardize my loan with Skipton Building Society. Do I keep my lawyer in the dark?.
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.
I am looking at a two apartments in Lifton which have approximately forty five years remaining on the leases. Will this present a problem?
There are no two ways about it. A leasehold apartment in Lifton is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. The majority of buyers and mortgage companies, leases with under eighty 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 Lifton 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 the agreed 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.
Leasehold Conveyancing in Lifton - Examples of Queries before Purchasing
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Plenty Lifton leasehold properties will incur a service charge for the upkeep of the block invoiced by the freeholder. Where you purchase the apartment you will have to meet this charge, usually quarterly accross the year. This can be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a rentcharge for you to pay yearly, ordinarily this is not a large sum, say approximately £50-£100 but you should to enquire it because on occasion it can be many hundreds of pounds. How many of the leaseholders are in arrears for their maintenance charge payments? You should be aware if it is no more than 80 years it will impact the salability of the apartment. It is worth checking with your lender that they are willing to lend given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this will be. Remember, in most cases you would be be obliged to have been the owner of the residence for 24 months in order to be legally able to exercise a lease extension.