I am helping my mother sell her flat in Niton. Does the conveyancing solicitor arrange an EPC or do I organise this?
Following the abolition of HIPs, energy performance certificates remained a required element of selling a property. An energy assessment should be to hand before the property is placed on the market. This is not as aspect of the sale process that conveyancers ordinarily organise. If you are using a Niton conveyancing practitioner they may be able to arrange energy assessments due to their contacts with long established local assessors
Forgive me if this question is silly but I am wet behind the ears as a first time buyer of a two bedroom flat in Niton. Do I receive the keys to the property on completion from my solicitor? If so, I will find a local conveyancing solicitor in Niton?
On the day of completion you do not need to attend the conveyancers office in Niton. Your solicitors will transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
Our offer on a property in Niton has been agreed to, but there is a chain. The owners have placed an offer on on an apartment, however it’s not yet tied up, and have viewings of other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Niton. What should be my next step? When should I get the mortgage application with Leeds Building Society going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx one thousand pounds, then survey, Niton conveyancing search costs, etc). First, you must check that your property lawyer is on the Leeds Building Society conveyancing panel. Regarding the subsequent steps this very much depends on the circumstances of your transaction, attraction to this property and on the state of the market. During a rising market some buyers will apply for the mortgage with Leeds Building Society and arrange for the valuation and only if it comes back ok would they request their lawyer to press on with the conveyancing in Niton.
Various internet forums that I have frequented warn that are the primary reason for stalling in Niton house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Niton.
four months have elapsed since my purchase conveyancing in Niton completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 property 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'm buying a new build house in Niton with a loan from Barclays . The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not disclose to my solicitor about the extras as it would put at risk my mortgage with Barclays . Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 decided to have a survey carried out on a property in Niton in advance of appointing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some banks may refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you contact us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Niton. Conveyancing will be smoother if you use a solicitor in Niton especially if they are accustomed to such properties in Niton.
Having checked my lease I have discovered that there are only 72 years left on my flat in Niton. I need to get lease extension but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the lessor. For most situations a specialist should be helpful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s absence and the vesting order request to the County Court covering Niton.
I purchased a 1 bedroom flat in Niton, conveyancing was carried out in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent flats in Niton with over 90 years remaining are worth £176,000. The ground rent is £50 charged once a year. The lease expires on 21st October 2104
You have 79 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.