I have been referred to a conveyancing solicitor in Burton Latimer. I I am struggling to find out whether they are on the Halifax conveyancing panel. Could you advise?
You should e-mail your lawyer and enquire if they can act for the lender. Alternatively please get in touch with Halifax who may be able to assist.
Will our solicitor be asking questions concerning flooding during the conveyancing in Burton Latimer.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Burton Latimer. There are those who buy a property in Burton Latimer, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, however there are a various searches that can be undertaken by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Burton Latimer. The conventional set of completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the owner to discover whether the premises has historically flooded. If the property has been flooded in past which is not disclosed by the owner, then a buyer may commence a claim for damages resulting from an incorrect answer. A purchaser’s solicitors will also order an enviro search. This should higlight whether there is any known flood risk. If so, additional inquiries should be conducted.
Me and my brother have a terraced Victorian house in Burton Latimer. Conveyancing lawyer acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Burton Latimer and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing lawyer who completed the work.
I am buying a new build house in Burton Latimer with a mortgage from Barclays Direct. The sellers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my lawyer about this deal as it would jeopardize my mortgage with Barclays Direct. Should I keep quiet?.
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.
Planning to complete next month on a studio apartment in Burton Latimer. Conveyancing solicitors inform me that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Burton Latimer should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? Who has the liability to repair and maintain the block. It is important that you know who is liable for the repair and maintenance of every part of the building Whether the lease restricts you from renting out the property, or having a home office for business You should be sent a copy of the lease Where does the liability rest for maintaining the window frames
Burton Latimer Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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How long is the Lease? Are any of leasehold owners in arrears of their service charge payments? The majority of Burton Latimer leasehold flats will incur a service charge for the upkeep of the building set on behalf of the freeholder. If you acquire the property you will have to meet this charge, normally quarterly throughout the year. This may vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a rentcharge to be met yearly, normally this is not a significant figure, say around £50-£100 but you need to check as occasionally it can be surprisingly expensive.
We own a leasehold flat in Burton Latimer. Conveyancing was finalised in last year. I have read on various consumer forums that I mustn’t allow the the remaining lease term to fall too short. Is this right?
Burton Latimer leasehold properties are for a prescribed term - usually ninety nine years when they are first granted. However a significant flats in Burton Latimer were constructed or converted in the 60’s and so such leases now have under 80 years remaining. This may seem like plenty of time however Banks, Building Societies and other mortgage lenders generally require leases to have a minimum of seventy five years unexpired to adequate security. This means that when you come to sell the property you will need to extend the term of your lease if you are nearing eighty years. To maximise the saleability of your property you should be thinking about whether or not to extend your lease long before you come to sell it. There are also significant benefits to taking action before the lease reaches even 80 years as when the lease is below 80 years the premium to be paid to extend starts to get a lot more expensive.