Is there a reason why leasehold purchase conveyancing in Castleford is more expensive?
Castleford leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Castleford?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Castleford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build house in Castleford with the aid of help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The property agent advised me not to tell my solicitor about the extras as it could affect my loan with Virgin Money. 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Castleford is the location of the property. Is there any guidance you can give?
Flying freeholds in Castleford are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Castleford you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Castleford 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 premises.
My partner has encouraged me to appoint his lawyers for conveyancing in Castleford. Should I choose my own solicitor?
Much as we are happy to recommend a Castleford conveyancing lawyer the ideal way to choose a conveyancing lawyer is to seek guidance from friends or family who have experience in using the solicitor that you are contemplating using.
Back In 2008, I bought a leasehold house in Castleford. Conveyancing and Aldermore mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Castleford who acted for me is not around. What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Castleford conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Castleford - Examples of Queries before buying
-
What is the annual service fee and ground rent? Where a Castleford lease has no more than eighty years it will have adverse implications on the marketability of the property. Check with your mortgage company that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of how much this would cost. Remember, in most cases you will need to own the premises for a couple of years before you are eligible to extend the lease. Is anyone aware of any major works on the horizon that will add a premium to the maintenance charges?