We are purchasing a 1 bedroom flat in Coningsby with a residential mortgage from Alliance & Leicester .We like our Coningsby conveyancing lawyer but Alliance & Leicester advised that he's not on their "panel". It seems we have no choice but to instruct a Alliance & Leicester panel solicitor or keep our high street solicitor and fork out for a Alliance & Leicester panel lawyer to represent them. This seems very unfair; Can we not simply insist that Alliance & Leicester use our lawyer?
Unfortunately,no. The loan offered to you contains various provisions, a common one being that lawyers will be on the Alliance & Leicester solicitor panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Alliance & Leicester
The estate agent has sent us the confirmation of our purchase of a new build flat in Coningsby. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Coningsby
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Coningsby I like with amenity areas and transport links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Coningsby for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan that many years will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Coningsby. I have chance upon a site which seems to have the ideal offering If there is a chance to get all formalities done via phone that would be preferable. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Estate agents have just been given the go-ahead to market my ground floor apartment in Coningsby. Conveyancing is yet to be initiated, however I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is clear the service charge as normal as all rents and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Coningsby - A selection of Questions you should consider before buying
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The majority of Coningsby leasehold properties will have a service bill for the upkeep of the building set by the landlord. Should you acquire the apartment you will have to pay this liability, usually quarterly during the year. This could vary from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met yearly, this is usually not a significant figure, say about £50-£100 but you need to enquire as sometimes it could be many hundreds of pounds. What is the maintenance charge and ground rent on the flat? What prohibitions are there in the Coningsby Lease?
How does one remove a deceased person's details from the title register for a property in Coningsby?
Where a Coningsby property is co-owned and one of the owners dies, their name will not automatically be removed from the Land Registry title. You are not required to remove their name as in the event of a disposal your conveyancer would just need to supply proof as to the reason the co owner is not included in the conveyance, such as the probate documents.
With a view to making the sale conveyancing more straight forward in the future you can apply to have the deceased person erased from the title register by submitting an application to the land registry with evidence of the death. There is no land registry fee payable.