Our Malpas solicitor has discovered an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he needs to check that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance appropriate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Have just purchased a probate house at auction in Malpas. Conveyancing is necessary. What happens now?
Now that you have exchanged you now have to hire the services of a conveyancing practitioner quickly as you are facing a fast approaching a fixed date to complete the conveyancing. All auction property will ordinarily have a corresponding legal pack. This will likely include most,if not all of the documents that your conveyancer will need. In the case of leasehold premises the conveyancing pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You should hand this to the lawyer working for you at the earliest opportunity. You also need to ensure that your finances are in place to complete on the on the contractual date .
My wife and I buying a end of terrace house in Malpas. Our aim is to carry out an extension to the side at the property.Will legal due diligence on the property involve investigations to determine if these works were previously refused?
Your property lawyer should check the registered title as conveyancing in Malpas can occasionally reveal restrictions in the title documents which prevent categories of works or require the consent of another owner. Some additions require local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
I am the single beneficiary of my late father’s will and I have everything in my name now, including the my former home in Malpas. The Malpas property was put into my name in October. I want to move. I do know about the CML 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the house in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Some lenders would take a pragmatic view as this requirement is chiefly there to identify subsales or the wholesaling and assigning of property.
My wife and I own a renovated Victorian house in Malpas. Conveyancing lawyer acted for me and Bank of Scotland. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the exact same property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Malpas 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 buyers. You can also check the position with the conveyancing practitioner who conducted the purchase.
I have been on the look out for a flat up to £245,000 and found one round the corner in Malpas I like with open areas and transport links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in Malpas in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage that many years will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I am downsizing from my house. My past lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Malpas if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Malpas. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
I have just started marketing my basement apartment in Malpas. Conveyancing is yet to be initiated, however I have just received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is clear the service charge as usual given that all ground rent and maintenance payments will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a split level flat in Malpas, conveyancing was carried out 8 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Malpas with over 90 years remaining are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease finishes on 21st October 2079
With only 58 years left to run we estimate the premium for your lease extension to be between £22,800 and £26,400 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.