I was told today by my lender that my Little Oakley property lawyer is not on the bank Solicitor panel. What can I do to check?
You need to call your Little Oakley conveyancer. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they may recommend you to a Little Oakley conveyancing firm that is on the approved list of lawyers for your bank.
I am assisting my step-mother sell her house in Little Oakley. Does the conveyancing solicitor arrange the energy performance certificate or do I organise this?
After the abolition of HIPs, energy performance certificates was kept a mandatory component of selling a house. An energy performance certificate needs to be to hand before the property is advertised. This is not something that conveyancers normally organise. If you are instructing a Little Oakley conveyancing practitioner they might help arrange energy assessments due to their contacts with reputable Little Oakley assessors
I have a mortgage with Principality for my property in Little Oakley. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
Principality must be informed of your intention before renting your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. It should not be necessary to do this via a Principality conveyancing panel lawyer.
My offer on a house in Little Oakley has been agreed to, but there is a chain. The vendors have put an offer on on an apartment, but it’s not yet agreed to, and are looking at other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Little Oakley. What do I do now? When should I get the mortgage application with Lloyds going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, Little Oakley conveyancing search fees, etc). The first course of action is to check that your lawyer is on the Lloyds approved list. Regarding the next phase this very much depends on the uniqueness of your case, desire for this property and on the state of the market. In a buoyant market many buyers will apply for a home loan with Lloyds and arrange for the valuation and only if it was satisfactory would they request their conveyancer to press on with searches.
Various web forums that I have come across warn that are the primary reason for delay in Little Oakley conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Little Oakley.
Just had an offer accepted on a new build flat in Little Oakley. Conveyancing is a frightening process 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 conveyancing.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Little Oakley
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Little Oakley is the location of the property. What do you suggest?
Flying freeholds in Little Oakley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Little Oakley 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 Little Oakley may determine 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.
My fiance and I may need to rent out our Little Oakley basement flat temporarily due to a career opportunity. We used a Little Oakley conveyancing practice in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease permits subletting. How do we find out?
A lease dictates the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Little Oakley do not contain subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I purchased a garden flat in Little Oakley, conveyancing having been completed July 2012. How much will my lease extension cost? Similar properties in Little Oakley with an extended lease are worth £170,000. The ground rent is £50 invoiced every year. The lease expires on 21st October 2104
With just 78 years unexpired the likely cost is going to be between £7,600 and £8,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.