What will a local search reveal concerning the property we're purchasing in Fishponds?
Fishponds conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search plays an important part in many a Fishponds conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search should provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic headings.
Me and my brother have a terraced Georgian property in Fishponds. Conveyancing practitioner represented me and Chelsea Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Fishponds and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing lawyer who conducted the conveyancing.
I am buying my first flat in Fishponds benefiting from help to buy. The developers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not reveal to my lawyer about the extras as it will put at risk my mortgage with Nottingham Building Society. Do I keep my lawyer in the dark?.
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.
Due to the advice of my in-laws I had a survey completed on a house in Fishponds before retaining conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some lenders may refuse to give a mortgage on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fishponds. Conveyancing may be slightly more expensive based on your lender's requirements.
How easy is it to use the search app to select a conveyancing solicitor in Fishponds on the panel for my mortgage?
Step one is to pick a bank such as Lloyds TSB Bank, The Royal Bank of Scotland or Clydesdale then specify your preferred area for instance Fishponds. Conveyancing practices in Fishponds and nationally should be shown.
I am a negotiator for a long established estate agent office in Fishponds where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Fishponds conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 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.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
Fishponds Leasehold Conveyancing - Sample of Queries before Purchasing
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Who are the managing agents? Its a good idea to find out as much as you can regarding the company managing the block as they will either make your life much easier or much more difficult. As the owner of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the tidiness of the common parts. Enquire of other tenants whether they are happy with them. In conclusion, find out the dates that the maintenance fees are due to the relevant party and precisely what it includes. This question is helpful as a) areas may result in problems in the block as the common areas may begin to deteriorate where maintenance remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure