Please explain the implications if my lawyer’s firm is removed from the Nottingham Solicitor panel ahead of completing my conveyancing in Newington?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I bought my flat on 6 October and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Newington expressed confidence that it would be concluded inside ten days. Are transfers in Newington particularly slow to register?
As far as conveyancing in Newington is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and whether the Land registry have to notify any third persons or bodies. As of today in the region of 80% of such applications are fully addressed within two weeks but occasionally there can be protracted delays. Historically registration occurs after the purchaser is living at the property therefore 'speed' is not usually primary concern yet if it is urgent that the the registration takes place urgently then you or your conveyancer should contact the land registry and explain the circumstances.
How does conveyancing in Newington differ for newly converted properties?
Most buyers of new build property in Newington contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because house builders in Newington typically purchase 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 conveyancing solicitors 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 Newington or who has acted in the same development.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Newington I like with a park and transport links in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Newington in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
Last June I purchased a leasehold flat in Newington. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Newington conveyancing firm to help?
Most certainly. We can put you in touch with a Newington conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Newington flat is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case related to 41 flats. The number of years remaining on the existing lease(s) was 107 years.
We are soon to purchasing a home in Newington. Conveyancing is not complete but we would like keep the amount we are are purchasing for private from sites such as Zoopla. Is this achievable and how?
HM Land Registry by statute are bound to note price sold information on the official title for residential properties countrywide which includes premises in Newington. The Title Register is a public document, so HMLR would be breaking the law if they failed to permit access to the register.
In essence you can make a request of the Land Registry to hide the amount paid entry yet the response will be in the negative.