Recently been in touch with my conveyancing solicitor in Sandwich who conducted the legals two years ago asking for a conveyancing quote based on the same type of house sale & purchase (a leasehold premises and a freehold property) of similar values with a home loan from Leeds Building Society. It looks as though am now being quoted double. Better the devil I know or should I seek out a cheaper online firm of conveyancing solicitor?
The quote is slightly on the high side. If you you were to look around you might trim some of the cost by perhaps a hundred pounds. On the other hand, providing that you were happy with the service the firm gave you couldlive to regret opting for an an untested conveyancer. Remember to check the solicitor can also act for Leeds Building Society. You can use our search tool to select a Sandwich conveyancing firm on the Leeds Building Society member panel, which can often include conveyancing solicitors in Sandwich.
Should our solicitor be raising questions regarding flooding during the conveyancing in Sandwich.
Flooding is a growing risk for lawyers dealing with homes in Sandwich. There are those who purchase a property in Sandwich, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a numerous searches that may be initiated by the purchaser or by their lawyers which can give them a better appreciation of the risks in Sandwich. The standard completed inquiry forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to discover if the premises has suffered from flooding. If flooding has previously occurred and is not notified by the seller, then a buyer could bring a compensation claim as a result of such an incorrect response. The buyer’s lawyers will also order an environmental report. This should disclose if there is any known flood risk. If so, further inquiries should be conducted.
Have completed on a a semi-detached house in Sandwich , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Sandwich conveyancing solicitor works at snail pace, so I want to check that my purchase is registered.
As far as conveyancing in Sandwich is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can vary subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any other persons or bodies. Currently in the region of three quarters of such applications are fully addressed within 12 days but some can be subject to extensive hold-ups. Registration takes place once the purchaser has moved in to the property so 'speed' is not always an essential issue but if it is urgent that the the registration takes place urgently then you or your lawyers should speak with the land registry and explain the circumstances.
About to purchase a new build flat in Sandwich. Conveyancing is a frightening process 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.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Sandwich
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants.
I am tempted by the attractive purchase price for a couple of flats in Sandwich which have in the region of 50 years remaining on the lease term. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Sandwich is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most purchasers and banks, leases with under 75 years become less and less attractive. 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 a residence 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 Sandwich conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. 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.
Sandwich Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
How much is the ground rent and service charge? For many Sandwich leaseholds the cost for major works tend not to be included within maintenance charges, albeit that some managing agents in Sandwich obliged leasehold owners to contribute towards a reserve fund and this is used to offset against major repairs or maintenance. What is the name of the managing agents?
I am purchasing a flat mortgage free. My conveyancer has been given with 2 distinct forms of photo ID, bank statement, numerous utility bills. Now he needs a copy from a probate lawyer stating that the funds are legitimate and that it has come from inheritance and not via illegitimate means.
In today’s world you will not be able to complete any Sandwich conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Evidence of your source of funds is required under Money Laundering laws.