My wife and I are purchasing a property in Chesham. I might seem paranoid but how we can trust a solicitor? At some point we will need to send our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My bid for a property was accepted at auction in Chesham. Conveyancing is required. What are my next steps?
Given that you have now for all intents and purposes signed on the dotted line you now have to hire the services of a conveyancing solicitor quickly as you are faced with a fast approaching deadline in which to complete the property. All auction property will ordinarily have a corresponding auction set of papers. This will include most,if not all of the documents that your conveyancer requires. If you have purchased leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete on the date specified in the contract.
Please help - my lawyer advises that defective lease insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Chesham?
The right level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between HSBC Bank and Coventry Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
Various internet forums that I have visited warn that are the main reason for delay in Chesham conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Chesham.
I have a 4 bedroom Georgian property in Chesham. Conveyancing solicitor represented me and Lloyds TSB Bank. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chesham and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing solicitor who conducted the conveyancing.
Due to the encouragement of my in-laws I had a survey completed on a house in Chesham ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies may not grant a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chesham. Conveyancing may be slightly more expensive based on your lender's requirements.
I was recommended by numerous selling agents in Chesham to select a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to recommend your site rather than a competitor’s?
We refuse to offer any commission for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I own a leasehold flat in Chesham. Conveyancing and TSB mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Chesham who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Chesham conveyancing firm to do this as it can be done on-line for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Chesham Conveyancing for Leasehold Flats - Examples of Queries before Purchasing
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Generally speaking the outlay for major works tend not to be built into the service charges, albeit that some managing agents in Chesham ask leaseholders to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. Where a Chesham lease has no more than eighty years it will have adverse implications on the value of the apartment. Check with your lender that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Cheshamlease extensions you will be required to have been the owner of the residence for 24 months in order to be entitled to extend the lease. Make sure you discover if there is anything that is prohibited in the lease. By way of example it is fairly common in Chesham leases that pets are not allowed in in a block in Chesham. If you love the apartmentin Chesham however your cat can’t make the move with you then you will be presented with a hard compromise.