Is there a reason why leasehold purchase conveyancing in Emsworth is more expensive?
Emsworth leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Emsworth conveyancer on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS 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 Coventry BS mortgage from the register. Coventry BS, 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 Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
Planning on purchasing a apartment in Emsworth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Emsworth conveyancing practitioner is on the Co-operative conveyancing panel.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Emsworth solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Emsworth surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I'm buying my first flat in Emsworth benefiting from help to buy. The developers would not move on the amount so I negotiated 6k of additionals instead. The house builders rep advised me not disclose to my conveyancer about the side-deal as it will impact my mortgage with Barclays . 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.
I opted to have a survey completed on a property in Emsworth prior to retaining lawyers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some banks tend not give a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Emsworth. Conveyancing may be slightly more expensive based on your lender's requirements.
I have just started marketing my 2 bed flat in Emsworth. Conveyancing has not commenced, but I have just had a yearly maintenance charge invoice – what should I do?
It best that you pay the maintenance contribution as you normally would as all ground rent and maintenance charges should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless 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.
I invested in buying a basement flat in Emsworth, conveyancing having been completed November 1998. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Emsworth with an extended lease are worth £197,000. The ground rent is £55 yearly. The lease terminates on 21st October 2080
With 55 years left to run the likely cost is going to be between £31,400 and £36,200 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
My husband and I are searching for a responsive conveyancing lawyer in Emsworth to help me sell my flat. I I am fearful of appointing the wrong one but with many Emsworth conveyancing practices out there...who do I opt for?
Where you have never used a property lawyer previously, a trustworthy recommendation via relatives or friends is a preferable starting point and is often the best barometer of quality. As an alternative option, consult the Law Society’s online list of lawyers in Emsworth or make use of our search tool to find a conveyancing solicitor in Emsworth.