I am buying a property without a mortgage in Upper Clapton. I have been residing for the last dozen years in Upper Clapton. Conveyancing searches are exorbitant. Given that I have knowledge of the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then the vast majority of the Upper Clapton conveyancing searches are non-obligatory. Your lawyer will try and sway you, no-doubt strongly, that you should have searches carried out, but he is duty bound to do this. One thing to take into account; if you are going to dispose of the house one day, it will likely be be of relevance to your prospective purchaser what the searches determine. There are plenty of instances where properties with apparent issues can still show up negative search results. A good conveyancing solicitor in Upper Clapton will provide you some sensible guidance concerning this.
Why do I have to pay up front for conveyancing in Upper Clapton?
Where you are retaining lawyers for conveyancing in Upper Clapton your lawyer will ask you place them with funds to cover the search fees. Generally this is needed to cover the fees of the conveyancing searches. When the deposit is payable against the purchase price then this will be required shortly ahead of exchange of contracts. Any further balance that is due will be payable shortly before completion.
I require expedited conveyancing in Upper Clapton as I am under pressure to sign on the dotted line in less than one month. Thankfully I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at liberty not to do searches although no solicitor would recommend that you don't. With lots of history conveyancing in Upper Clapton the following are instances of what can appear and adversely impact future saleability: Enforcement Actions, Outstanding Fees, Overdue Grants, Road Schemes,...
five months have gone by since my purchase conveyancing in Upper Clapton concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 opted to have a survey completed on a house in Upper Clapton ahead of retaining lawyers. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies may not issue a loan on such a house.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Upper Clapton. Conveyancing will be smoother if you use a solicitor in Upper Clapton especially if they are acquainted with such properties in Upper Clapton.
I've recently bought a leasehold property in Upper Clapton. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Following months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Upper Clapton. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the sum to be paid.
An example of a Lease Extension decision for a Upper Clapton property is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case was in relation to 1 flat. The unexpired term was 59 years.