I'm in the process of porting my current residential loan to a BTL Chelsea Building Society mortgage. The bank has said that I require a lawyer for this. I got in contact with my former Maxton conveyancing solicitor who acted on my behalf when I originally bought the premises. The quote supplied of £575 plus disbursements has surprised me as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The charges are a bit high. If you shop around you might reduce the fees marginally by say £100 plus VAT. That being said, if you were pleased with the conveyancing the firm provided you couldcome to regret opting for an an untested conveyancer. Don't forget to check the conveyancer can act for Chelsea Building Society. Do employ our search tool to locate a Maxton conveyancing firm on the Chelsea Building Society member panel, which can often include conveyancing solicitors in Maxton.
Me and my wife are acquiring our first house. Our conveyancer has messagedto ask if we wish to take out extra conveyancing searches. We are really unsure what's relevant for conveyancing in Maxton
The scope of Maxton conveyancing searches should be triggered based entirely on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general appetite to risk. What is important is that you adequately understand what information the searches could give you. You may then make a decision if you consider that you need that search. Should you be unclear, ask the lawyer to offer guidance.
I have been told that property searches are the main cause of delay in Maxton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Maxton.
I own a semi-detached Georgian property in Maxton. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same property. Is it worth asking Aldermore to clarify?
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 Maxton and other locations in 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 purchasers. You can also question the situation with the conveyancing practitioner who conducted the work.
My husband and I are novice buyers - had an offer accepted, but the property agent has warned us that the owners will only issue a contract if we appoint the agent's recommended solicitors as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Maxton
It is unlikely the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Avoid the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you will continue to appoint your own,trusted Maxton conveyancing solicitors - not the ones that will provide the negotiator at the agency a introducer fee or achieve conveyancing figures demanded by HQ.
I work for a reputable estate agency in Maxton where we see a number of flat sales put at risk as a result of short leases. I have been given contradictory information from local Maxton conveyancing solicitors. Could you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
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. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 Maxton - Sample of Queries Prior to buying
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How many of the leaseholders are in arrears for their maintenance charge payments? Many Maxton leasehold flats will have a service bill for the upkeep of the block levied by the landlord. Should you buy the property you will have to meet this charge, normally periodically accross the year. This could differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a ground rent for you to pay annual, this is usually not a significant amount, say approximately £25-£75 but you should to check it because sometimes it can be many hundreds of pounds. Its a good idea to find out as much as you can regarding the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the communal areas. Ask other tenants whether they are happy with their service. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and precisely what it includes.