It has come to my attention via my IFA that my Upton property lawyer is not on the lender Solicitor panel. How can I be sure that this is correct?
Your first step should be to call your Upton lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. If they are not on the panel they may recommend you to a Upton conveyancing practice that is on the conveyancing panel for your mortgage company.
It has been 4 months since my purchase conveyancing in Upton took place. I have checked the Land Registry website which shows that I paid £150,000 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 am buying a new build flat in Upton. 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 few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Upton
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am looking for a leasehold apartment up to £245,000 and identified one near me in Upton I like with a park and transport links nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Upton suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 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 current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Can you offer any advice when it comes to choosing a Upton conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Upton conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Upton conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
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What are the costs for lease extension work?
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Upton conveyancing firm to help?
Absolutely. We can put you in touch with a Upton conveyancing firm who can help.
An example of a Lease Extension decision for a Upton flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The number of years remaining on the existing lease(s) was 76 years.
We have been informed by various estate agents that it can take six to eight weeks for Upton conveyancing to complete.This was 3 ago. The property information was only forwarded to my conveyancing practitioner a few days ago so does the clock start running now?
Do not rely on completing on a set date until exchange of contracts occurs. Whatever assurances the people you are acquiring from or selling to make, or your lender makes don't bank on them. More frustration is caused to buyers and sellers by unfulfilled assurances than anything else.