Am I correct in assuming that the fact that my conveyancer in Northop Hall is not on my mortgage company's conveyancing panel that there is a problem with the quality of her work?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Northop Hall conveyancing firm and enquire why they are no longer on the approved list for your bank.
Are the Northop Hall conveyancing solicitors identified as being on the Coventry BS conveyancing panel, together with their details provided by Coventry BS?
Northop Hall conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a house in Northop Hall? or I am told that there is an ancient law that means some owners of property living in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this relevant for conveyancing in Northop Hall?
Unless a previous acquisition of the premises took place post 12 October 2013 you can take it that lawyers delivering conveyancing in Northop Hall to continue to advocate a chancel search and or insurance against a claim.
It has been 3 months following my purchase conveyancing in Northop Hall concluded. I have checked the Land Registry website 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 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 am buying a new build apartment in Northop Hall. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Northop Hall
-
Please confirm the Lease plans are architect prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am attracted to a couple of apartments in Northop Hall both have approximately 50 years remaining on the lease term. should I be concerned?
There are no two ways about it. A leasehold apartment in Northop Hall is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most purchasers and banks, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Northop Hall conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Northop Hall Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
-
Does the lease contain onerous restrictions? What is the maintenance charge and ground rent on the flat? How many of the leaseholders are in arrears for their maintenance charge payments?