My financial adviser has asked me for my Seaton lawyer’ panel reference for the Lloyds conveyancing panel. Can you suggest how I discover this. I have called my local Seaton branch but they have not responded to me.
You are best placed to get this information from your Seaton solicitor . Most Seaton law firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
My partner and I are acquiring a newly constructed apartment in Seaton and my lawyer is informing me that she is duty bound to the bank to reveal incentives from the builder. I am under pressure to sign contracts and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a reason why leasehold purchase conveyancing in Seaton is more expensive?
In short, leasehold conveyancing in Seaton and Devon usually involve more due diligence compared to freehold conveyancing. This includes analysing the lease terms, corresponding with the landlord about serving required notices, securing up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first entered into.
My wife and I own a 4 bedroom Victorian property in Seaton. Conveyancing solicitor represented me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess 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 Seaton and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing solicitor who completed the work.
I am buying a new build apartment in Seaton. 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 legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Seaton
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Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. Please supply a car parking plan.
I have just started marketing my ground floor apartment in Seaton. Conveyancing lawyers have not yet been instructed, but I have recently received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal given that all rents and maintenance payments will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Seaton Leasehold Conveyancing - A selection of Queries Prior to buying
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Does the lease contain onerous restrictions? Is there a share of the freehold? Does the lease have in excess of 80 years left?