I am expecting a mortgage offer from Halifax. My intention is to instruct a Licensed Conveyancer in Burford. Does the Halifax Solicitor panel allow for conveyancers regulated by the CLC?
The Halifax approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
This question may be naive but I am wet behind the ears as a 1st time buyer of a ground floor flat in Burford. Do I pick up the keys to the premises on the completion date from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Burford?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the owner’s conveyancers, and once they have received this, you will be called to pick up the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
I was told four weeks ago that my mortgage has been agreed to by TSB. Is it usual for TSB to only issue the offer once my solicitor in Burford is approved on their conveyancing panel? TSB have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have instructed a Burford conveyancing practitioner having checked that they are on the Skipton conveyancing panel. Does my lawyer arrange the survey of the property?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Burford postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in Burford.
It has been 3 months since my purchase conveyancing in Burford completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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 residence 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.
About to purchase a new build flat in Burford. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Burford
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide 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. Please supply a car parking plan.
I am looking at a couple of maisonettes in Burford both have about fifty years left on the leases. should I be concerned?
There are no two ways about it. A leasehold flat in Burford is a wasting 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 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 residence 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 Burford 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 any new 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.
Burford Leasehold Conveyancing - Sample of Queries Prior to buying
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Are there any major works in the planning that will increase the maintenance charges? It would be wise to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the communal areas. Ask other people whether they are happy with their service. On a final note, be sure you know the dates that the maintenance charges are due to the relevant party and specifically what you get for your money. Make sure you investigate if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Burford. If you like the flatin Burford but your cat is not allowed to live with you then you will be presented with a difficult choice.
The lawyers handling our conveyancing in Burford has forwarded documents to review that show the property is unregistered with epitome documents. Is it not the case that all properties in Burford are registered?
Much of the property in Burford is registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Burford conveyancing practitioners will be familiar with such matters but where uncertainty exists the usual recommendation presently seems to be for the current owners to register it first and subsequently deal with the dispose of the property to the purchaser - this can though naturally result in a significant delay.