Finally the sale completed on my house in Longhope last February but the buyer keeps Skype messaging every few hours to say her conveyancer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your sale your solicitor is committed to deliver the transfer documentation and all additional paperwork to the purchaser's lawyers. Where relevant, your lawyer should also evidence that the mortgage has been paid off to the purchasers solicitors. There are no post completion procedures unique to conveyancing in Longhope.
I am purchasing a property in Longhope. A rare aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Lloyds your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Lloyds where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties countrywide and is not isolated to Longhope.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Longhope solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Longhope surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Skipton have agreed my home loan in principle, my bid on a apartment in Longhope has been agreed to, now what?
The property agent will need to know who your solicitors are (ensure that the property lawyers are on the lender’s approved list). Telephone Skipton or the broker and finish off any appropriate documentation. Skipton will appoint a valuer who will get in touch with the selling agent or seller to arrange an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Skipton will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Longhope.
I have been told that property searches are the number one cause of hinderance in Longhope conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Longhope.
4 months have elapsed since my purchase conveyancing in Longhope completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
We're first time buyers - agreed a price, but the estate agent told us that the owners will only go ahead if we appoint the agent's chosen lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Longhope
We suspect that the seller is not behind this ultimatum. Should the owner want ‘a quick sale', turning down a motivated purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you intend to instruct your preferred Longhope conveyancing lawyers - rather thanthose that will give the estate agent a kickback or achieve conveyancing targets demanded by corporate headquarters.
I am looking at a two apartments in Longhope which have about 50 years remaining on the leases. Will this present a problem?
There are plenty of short leases in Longhope. The lease is a legal document that entitles you to use the premises for a period of time. As a lease gets shorter the saleability of the lease deteriorates and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena.
I acquired a garden flat in Longhope, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Longhope with over 90 years remaining are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2073
With 53 years unexpired we estimate the price of your lease extension to be between £27,600 and £31,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.