I understand that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when buying a residence in Waterloo? or Apparently there is historic law that could mean that homeowners residing in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this appropriate for conveyancing in Waterloo?
Unless a previous purchase of the property completed post 12 October 2013 you could expect lawyers carrying out conveyancing in Waterloo to continue to advocate a chancel search and or insurance against a claim.
It has been four months following my purchase conveyancing in Waterloo completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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 apartment in Waterloo. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Waterloo
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Waterloo is where the house is located. Can you shed any light on this issue?
Flying freeholds in Waterloo are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Waterloo you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waterloo may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Am I right to be suspicious about estate agents that I am dealing with are recommending a factory type conveyancing firm rather than a local Waterloo conveyancing firm?
As is the case with many service providers, often recommendations from connections can be worth their weight in gold. Nevertheless there are lots of people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all put forward lawyers to appoint. Sometimes the solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a financial incentive behind the endorsement. You have the discretion to appoint your preferred conveyancer. You need to be aware that many banks specify a panel list of lawyers you must use for the mortgage aspect of your conveyancing.
We are midway through buying a house in Waterloo. Conveyancing lawyer has told us the title is "Leasehold". Does this make a difference on the marketability of the house?
Waterloo conveyancing does not ordinarily involve leasehold houses. The key factor here is the remaining lease term and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to impact the marketability too much.
At the other end of the spectrum, if it's, say, fifty five years it is bound to have a adverse impact on the value, and most likely wouldn't be acceptable to the mortgage company. The remaining lease term and ground rent will be specified in the lease to be supplied to your conveyancing practitioner.