Completed the sale of my flat in Witham last June but my buyer keeps whats apping every few hours to moan that his solicitor is waiting to hear from myconveyancer. What are the post completion sale formalities following completion?
After completion of your disposal your solicitor should deliver the transfer documentation and all of the paperwork to the buyer’s solicitors. Where relevant, your solicitor must also send confirmation that the home loan has been paid off to the purchasers conveyancers. There are no post completion tasks just for conveyancing in Witham.
I am purchasing a 4 bedroom semi-detached house in Witham. Our aim is to convert the garage to a playroom at the house.Will legal due diligence on the property involve investigations to see if these alterations are prohibited?
Your solicitor will review the deeds as conveyancing in Witham can on occasion reveal restrictions in the title deeds which prohibit categories of works or need the consent of another owner. Certain additions need local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I am the single beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Witham. Conveyancing formalities meant that the Land Registry date was in October. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my property ownership will be considered the same way as though I had purchased the property in October. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. many lenders would take a sensible view as this clause chiefly exists to pick up on subsales or the flipping of property.
Completion of my remortgage has taken place for my property in Witham. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I have justdiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Witham for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is in my name in the name of the previous owner?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Witham conveyancing specialists.
How does conveyancing in Witham differ for new build properties?
Most buyers of new build premises in Witham approach us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because builders in Witham tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Witham or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Witham ahead of instructing lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some lenders may refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can check 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 Witham. Conveyancing will be smoother if you use a solicitor in Witham especially if they are acquainted with such properties in Witham.
I am tempted by the attractive purchase price for a two apartments in Witham which have in the region of forty five years left on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Witham is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and banks, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Witham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Witham Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
Are any of leasehold owners in dispute over their service charge payments? Where a Witham lease has no more than 80 years it will impact the marketability of the flat. Check with your lender that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease at some point and you need to have some idea of how much this will be. For most Withamlease extensions you would need to own the premises for two years in order to be eligible to exercise a lease extension. What restrictions are there in the Witham Lease?