Completed the sale of my flat in Newbury Park last April yet the purchaser is whats apping every few hours to say their solicitor needs to hear from mylawyer. What should have happened following completion?
Post completion of your sale your conveyancer should deliver the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. If applicable, your conveyancer should also confirm that the home loan has been discharged to the purchasers lawyers. There is unlikely to be post completion requirements just for conveyancing in Newbury Park.
We had selected conveyancing lawyers with offices in Newbury Park on the Leeds Building Society solicitor approved list. They have just billed me a further sum for handling the Leeds Building Society mortgage. Is this a supplemental conveyancing fee specified by Leeds Building Society?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your conveyancing practitioner may charge a fee for this. This charge is not set by Leeds Building Society but by your Newbury Park solicitor. Plenty of firms on the Leeds Building Society panel will quote ’dealing with mortgage’ fee and others do not.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Newbury Park conveyancing practitioner on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
My offer on a semi in Newbury Park has been accepted, but there is a chain. The vendors have placed an offer on somewhere, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Newbury Park. What should be my next step? At what stage do I apply for the mortgage with Nationwide?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx one thousand pounds, then valuation, Newbury Park conveyancing search charges, etc). The first course of action is to check that your property lawyer is on the Nationwide approved list. Regarding the next phase this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. In a rising market some buyers would apply for the mortgage with Nationwide and arrange for the valuation and only if it comes back ok would they pay their conveyancer to press on with the conveyancing in Newbury Park.
It has been four months since my purchase conveyancing in Newbury Park took place. 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 premises 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.
I am purchasing my first flat in Newbury Park with a loan from Leeds Building Society. The developers would not reduce the price so I negotiated 6k of additionals instead. The estate agent suggested that I not reveal to my conveyancer about this side-deal as it could put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Newbury Park is the location of the property. Can you offer any guidance?
Flying freeholds in Newbury Park are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newbury Park you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newbury Park may decide 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 property.
Expecting to complete next month on a leasehold property in Newbury Park. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Newbury Park should include some of the following:
Whether your lease has a provision for a sinking fund for major repairs? Specifying your legal entitlements in respect of common areas in the building.By way of example, does the lease permit a right of way over a path or staircase? An explanation as to the provision in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a tenant enjoys Does the lease require carpeting throughout thus preventing wood flooring? specifics of the parties to the lease, for example these could be the leaseholder, head lessor, landlord
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Newbury Park conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Newbury Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Newbury Park residence is 104 Coventry Road in July 2014. The Tribunal determined that the lease extension permium should be £22,896.15 This case affected 1 flat. The unexpired lease term was 60.29 years.