Having sold my house in Brigg last February yet the purchaser is SMS messaging every few hours to moan that his conveyancer is waiting to hear from mylawyer. What are the post completion sale legalities now that I have sold?
Following your sale your lawyer is committed to send the transfer documentation and all of the paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also send confirmation that the home loan has been discharged to the purchasers solicitors. There are no post completion tasks specific conveyancing in Brigg.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to instruct a Brigg based conveyancing firm?
Do check but the chances are that appoint one of their panel solicitors where you take up the "fee-free" deal. Call the bank to determine if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Brigg.
Can you point me to a directory of HSBC panel solicitors in Brigg on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such tool on the CML or Building Society Association sites. Very few banks make their panel listings viewable on the web. If you are seeking to appoint a Brigg conveyancer on the HSBC please use our tool.
is it true that all Brigg solicitor practices on the Skipton conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Skipton approved list of solicitors they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
I can not work out if my bank requires a lease extension. I have called my Brigg bank branch on numerous occasions and was told it wasn't a problem and they would lend. My Brigg conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
The solicitor has to follow the CML Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
three months have gone by since my purchase conveyancing in Brigg took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Brigg is the location of the property. Is there any guidance you can impart?
Flying freeholds in Brigg are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Brigg 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 Brigg 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.
I am looking at a two maisonettes in Brigg both have about forty five years left on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Brigg is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the property. For most purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 Brigg 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.
Leasehold Conveyancing in Brigg - Sample of Questions you should ask before buying
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What is the maintenance charge and ground rent on the property? Generally speaking the cost for major works tend not to be included within maintenance charges, although there some managing agents in Brigg require leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance. How many of the leaseholders are in arrears for their service charge payments?