We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to appoint a high street conveyancing solicitor in Rye?
You should check but the chances are that give you one of their panel conveyancers if you want the "fee-free" deal. Call the mortgage company to see if they allow a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Rye.
Various internet forums that I have frequented warn that are the primary reason for obstruction in Rye house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Rye.
It has been 4 months since my purchase conveyancing in Rye concluded. I have checked the Land Registry site 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 premises 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Rye is the location of the property. Can you offer any opinion?
Flying freeholds in Rye are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rye you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rye 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.
I am employed by a long established estate agency in Rye where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Rye conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Rye Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
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The prefered form of lease structure is a share of the freehold. In this arrangement the lessees enjoy being in charge if their destiny and even though a managing agent is usually employed if the building is larger than a house conversion, the managing agent is directed by the tenants. How much is the ground rent and service charge? Best to be warned if redecorating or some other major work is due shortly to be shared amongst the tenants and could well materially increase the the maintenance costs or necessitate a specific invoice.
How does one as executor remove a deceased person's name from the title deeds for a property in Rye?
If a Rye property is co-owned and one of the proprietors passes away, the name will not immediately be removed from the title deeds. You are not required to amend the title as in the event of a disposal your conveyancer would just be required to evidence as to the reason the co owner is not included in the contract, ordinarily this takes the form of the probate documents.
With a view to making things more straight forward in the future you may arrange to have the deceased person erased from the title register by submitting an application to HMLR with evidence of the death. There is no charge from the Registry for this service.