Have just purchased a probate house at auction in Northampton. Conveyancing is needed. What are my next steps?
Having legally committed yourself to purchase you must choose a conveyancing lawyer as a matter of priority as you are faced with a pending deadline in which to complete the deal. All auction property will have a corresponding legal pack. This will include evidence of title and search results. In the case of leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You need to give this to the solicitor working for you at the earliest opportunity. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
My stepmother pointed out to me me that in buying a property in Northampton there may be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of a number of properties in Northampton which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Northampton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Northampton CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing panel?
A selection of banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
I have a terraced Georgian house in Northampton. Conveyancing solicitor represented me and Skipton Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same property. Is it worth asking Skipton Building Society to clarify?
You should review 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 Northampton and other areas of 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 check the position with your conveyancing solicitor who completed the work.
I am purchasing my first flat in Northampton benefiting from help to buy. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The property agent told me not to tell my solicitor about this extras as it would impact my mortgage with the bank. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Northampton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Northampton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Northampton you must be sure that your lawyer goes 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 Northampton may determine 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 residence.
What makes your site different to other web based conveyancing solicitors when it comes to conveyancing in Northampton?
At this site secure a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Northampton. As opposed to estate agents and brokerage sites we are not in the business of charging firms a commission if you select them for your conveyancing in Northampton
What are your top tips when it comes to appointing a Northampton conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Northampton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Northampton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
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If the firm is not ALEP accredited then what is the reason? How familiar is the practice with lease extension legislation?
Northampton Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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Best to be warned whether a new roof is being installed or some other major work is due in the near future to be shared amongst the leasehold owners and may well materially impact the level of the maintenance fees or necessitate a specific invoice. If a Northampton lease has no more than eighty years it will affect the salability of the property. Check with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you would be be obliged to have been the owner of the residence for 24 months in order to be entitled to carry out a lease extension. Does the lease have onerous restrictions?