My wife and I are acquiring a brand new apartment in Northleach and my solicitor is advising me that she is duty bound to the lender to reveal incentives from the developer. I am nearing the developer’s deadline to sign contracts and my preference is not to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Me and my partner are purchasing a property in Northleach. I might seem paranoid but how we can trust a solicitor? At some point we have to send money into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Northleach. Do I pick up the keys to the house on the completion date from my solicitor? If so, I will instruct a local conveyancing solicitor in Northleach?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be able to collect the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
My uncle pointed out to me me that in purchasing a property in Northleach there could be various restrictions preventing external changes to the property. Is this right?
There are a number of properties in Northleach which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Northleach should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
three months have elapsed since my purchase conveyancing in Northleach 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 asset 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 buying a new build flat in Northleach. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Northleach
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Given that I am about to part with £400,000 on a terraced house in Northleach I wish to talk to a solicitor concerning theconveyancing in advance of appointing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer who will be doing your property ownership legalities in Northleach.There is no ‘factory style conveyancing’ - every client is an important person, not a matter number. The practices that we put you in touch with believe that the fees you are provided with for residential conveyancing in Northleach should be the figure that you are charged.
What are your top tips when it comes to finding a Northleach conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Northleach conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Northleach conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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What volume of lease extensions has the firm carried out in Northleach in the last year? Can they put you in touch with clients in Northleach who can give a testimonial?
Northleach Leasehold Conveyancing - Sample of Queries before buying
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Please note that where the lease has no more than eighty years it will have adverse implications on the value of the apartment. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of how much this will be. Remember, in most cases you will be be obliged to have owned the residence for 24 months in order to be legally able to extend the lease. Does the lease have in excess of 85 years left?