I am assisting my aunt sell her property in The Park. Will the conveyancing solicitor arrange the energy assessment or it is for the seller to coordinate?
Following the abolition of Home Information Packs, energy performance certificates was retained a mandatory part of selling a property. An EPC must be to hand before the property is placed on the market. This is not something that solicitors ordinarily arrange. Where you are instructing a The Park conveyancing solicitor they might be able to arrange energy performance certificates due to their contacts with reputable local assessors
We had appointed solicitors located in The Park on the Principality solicitor approved list. They have just billed me a separate charge for the legal aspects of the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
Provided it is contained in their Terms of Engagement or Quote then yes your lawyer can charge a fee for this. This charge is not set by Principality but by your The Park conveyancer. Plenty of firms on the Principality panel will levy an ‘acting for lender’ fee and others do not.
The mortgage over my property is with UBS for my property in The Park. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
You must advise UBS before renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel solicitor.
My friend recommended that where I am purchasing in The Park I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually included in the estimate for your The Park conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about The Park around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the The Park Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding The Park.
Just bought a terraced house in The Park , how long should it take for the Land Registry to register my proprietorship? My The Park conveyancing solicitor works at snail pace, so I want to be certain that my name is registered.
There is nothing unique when it comes to conveyancing in The Park registration formalities. As opposed to being determined by geographic area, timescales can adjust according to the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. At present approximately three quarters of submission are fully dealt with within 12 days but some can be subject to longer delays. Historically registration takes place after the buyer has moved in to the property thus an expedited registration is not usually top priority but where there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
I am buying my first flat in The Park with a loan from Nationwide Building Society. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not disclose to my lawyer about this extras as it would put at risk my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a flat up to £235,500 and found one round the corner in The Park I like with open areas and railway links in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in The Park suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan that many years will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Back In 2009, I bought a leasehold flat in The Park. Conveyancing and Leeds Building Society mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in The Park who acted for me is not around. Any advice?
The first thing you should do is make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the new freeholder. There is no need to incur the fees of a The Park conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
The Park Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
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It would be wise to discover as much as you can concerning the company managing the block as they will either make life much easier or uncomfortable. As the owner of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to every day matters such as the tidiness of the communal areas. Ask other people if they are happy with their management. On a final note, investigate as to the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money. What prohibitions are there in the The Park Lease? The best form of lease arrangement is where the freehold reversion is owned by the leaseholders. In this scenario the tenants have control and even though a managing agent is often employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.