I am planning to move house in January. Should my conveyancing solicitor update the removal company on the day of completion. As an aside, can you recommend a removal company in Filey. Conveyancing firm was chosen before I stumbled across your site.
On the afternoon of completion you can pick up the house keys from the selling agent but this should only happen once the previous owners lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be passed over. After that you should tell the removal men that you are ready to move in. We are not in a position to recommend a specific removal organisation but can assist you in choosing a residential property solicitor in Filey or a solicitor that specialises in conveyancing in Filey.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Filey solicitor on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money 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 Virgin Money mortgage from the register. Virgin Money, 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 Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
Principality have agreed my home loan in principle, my offer on a apartment in Filey has been accepted, what happens next?
The property agent will want to know who your solicitors are (ensure that the solicitors are on the lender’s panel). Contact Principality or the broker and finalise any outstanding documentation. Principality will appoint a valuer who will get in contact with the estate agent or owners to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes on average a fortnight to get a mortgage offer. Principality will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Filey.
I purchased my flat on 4 May and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Filey expressed confidence that it would be registered inside ten days. Are transfers in Filey particularly slow to register?
As far as conveyancing in Filey is concerned, registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can vary subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any third parties. Currently approximately 80% of such applications are fully dealt with within 12 days but occasionally there can be longer hold-ups. Registration is effected once the new owner has moved in to the premises thus an expedited registration is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Filey differ for newly converted properties?
Most buyers of new build residence in Filey contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Filey usually purchase the real estate, 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 conveyancing solicitors 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 Filey or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and found one close by in Filey I like with open areas and railway links nearby, however it's only got 61 remaining years left on the lease. There is not much else in Filey in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I'm refinancing my current property to a BTL loan with Nottingham Building Society and intend to use the remaining equity as a deposit on further house. The location we are talking about is Filey. Will your conveyancers be able to act for the two lenders and tie in the conveyances?
Do use our search tool on this page to check that the solicitors are on the appropriate lender panels. Assuming that they are your conveyancer should be able to connect the two transactions but you should have a chat with you solicitor and make clear your desired outcome and needs.
I work for a long established estate agent office in Filey where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Filey conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Filey Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
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In the main the cost for major works tend not to be built into the maintenance charges, albeit that there some managing agents in Filey require tenants to pay into a reserve fund and this is used to offset against larger works. How many of the leaseholders are in arrears for their service charge payments? What is the name of the managing agents?