My partner and I are acquiring a brand new duplex in Eastbourne and my lawyer is telling me that she has to the bank to reveal incentives from the developer. The Estate Agents are hassling me to sign contracts and my preference is not to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a two bedroom flat in Eastbourne. Do I collect the keys to the premises on completion from my lawyer? If this is the case, I will find a local conveyancing solicitor in Eastbourne?
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 vendor’s lawyers, and once they have received this, you should be invited to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have paid off my mortgage with RBS. I assume I don't need a Eastbourne lawyer on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Eastbourne building society branch on numerous occasions and was told they are content with the situation and they will lend. My Eastbourne conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend based on their specific requirements. I simply don't know who is right.
Your lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My wife and I own a 4 bedroom Georgian house in Eastbourne. Conveyancing solicitor acted for me and Yorkshire Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Eastbourne 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 enquire as to the situation with the conveyancing solicitor who conducted the purchase.
How does conveyancing in Eastbourne differ for new build properties?
Most buyers of new build premises in Eastbourne approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Eastbourne usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Eastbourne or who has acted in the same development.
Am I best advised to choose a Eastbourne conveyancing practitioner in close proximity to the house I am buying? We have a good friend who can perform the legal work but they are based 300kilometers drive away.
The benefit of a high street Eastbourne conveyancing firm is that you can visit the firm to execute paperwork, present your ID and pester them if necessary. Having local Eastbourne know how is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who used your friend and they were content that should outweigh using an unfamiliar Eastbourne conveyancing solicitor just because they are Eastbourne based.
Last July I purchased a leasehold house in Eastbourne. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Eastbourne - Examples of Queries before Purchasing
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Is the freehold reversion owned jointly by the tenants? Plenty Eastbourne leasehold flats will have a service bill for the upkeep of the block set by the management company. Should you purchase the property you will have to pay this amount, usually in instalments during the year. This may be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a ground rent for you to pay yearly, this is usually not a large figure, say around £50-£100 but you need to enquire it because occasionally it can be many hundreds of pounds. What is the annual service fee and ground rent?