five months have gone by following my purchase conveyancing in Miles Platting concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 residence 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.
How does conveyancing in Miles Platting differ for new build properties?
Most buyers of new build residence in Miles Platting come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Miles Platting tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Miles Platting or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Miles Platting I like with a park and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Miles Platting for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I'm remortgaging my primary house to a BTL mortgage with Barclays and intend to use the remaining equity as a deposit on a second house. The location we are interested in is Miles Platting. Will your solicitors be able to act for both sets of banks and tie in the conveyances?
Do use our search tool on this site to be sure that the conveyancers are approved by both banks. On the basis that they are the lawyer will be able to connect the two deals but you should talk with you lawyer and make apparent your expectations and needs.
Am I best advised to instruct a Miles Platting conveyancing solicitor who is local to the property I am purchasing? An old friend can carry out the legal formalities but his firm is located approximately 350miles away.
The benefit of a local Miles Platting conveyancing firm is that you can drop in to execute documents, deliver your ID and apply pressure on them if necessary. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and on the whole were content that must outweigh using an unknown Miles Platting conveyancing solicitor solely due to them being Miles Platting based.
Looking forward to exchange soon on a garden flat in Miles Platting. Conveyancing solicitors inform me that they are sending me a report tomorrow. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Miles Platting should include some of the following:
The physical ownership of the demise. This may be the property itself but might incorporate a roof space or basement if applicable. What options are open to you if another leaseholder in the building is in violation of a provision in their lease? Where does the liability rest to repair and maintain the block. It is important that you know who is duty bound to repair and maintenance of all parts of the block and communal areas Whether your lease has a provision for a slush fund for major repairs? What options are available to the landlord where you breach a clause of your lease?
Leasehold Conveyancing in Miles Platting - Sample of Queries Prior to buying
Can you tell me if there are any major works in the planning that will increase the maintenance charges? Please note that where the lease has fewer than eighty years it will affect the salability of the apartment. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease at some point and you need to have some idea of how much this will be. For most Miles Plattinglease extensions you would need to own the premises for a couple of years before you are entitled to exercise a lease extension.