I have todaybecome aware that Arc property Solicitors have been shut down. They carried out my conveyancing in Beacon Hill for a purchase of a leasehold flat 10 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can carry out 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 Beacon Hill conveyancing specialists.
I'm buying my first flat in Beacon Hill with the aid of help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not to tell my solicitor about the side-deal as it will put at risk my loan with the bank. 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've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Beacon Hill is where the house is located. Is there any guidance you can impart?
Flying freeholds in Beacon Hill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beacon Hill you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beacon Hill 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.
My husband and I are first time buyers - had an offer accepted, yet the estate agent advised that the vendor will only go ahead if we instruct their chosen solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a local conveyancer with experience of conveyancing in Beacon Hill
It is highly unlikely the vendors are behind this. If they require ‘a quick sale', alienating a serious buyer is going to damage their objectives. Try to communicate with the sellers directly and make the point that (a)you are genuine buyers (b)you are ready to progress, with finances in place © you are chain free (d) you intend to proceed fast (e)however you intend to instruct your preferred Beacon Hill conveyancing firm - rather thanthe ones that will provide their negotiator at the agency a commission or hit his conveyancing figures pre-set by head office.
Last December I purchased a leasehold house in Beacon Hill. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element 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).
I am the registered owner of a leasehold flat in Beacon Hill, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Beacon Hill with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease runs out on 21st October 2077
With 52 years left to run the likely cost is going to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
Why am I unable to complete my conveyancing in Beacon Hill on a public holiday?
Because on completion the money will pass between the banks of the buyer and seller's conveyancing practitioner and currently this can only occur on a business day. So you can't complete on a weekend either.