I am getting a mortgage with Lloyds. My intention is to instruct a Licensed Conveyancer in Flackwell Heath. Does the Lloyds Conveyancing panel allow for conveyancers regulated by the CLC?
The Lloyds conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Completed the sale of my flat in Flackwell Heath last October but our buyer keeps whats apping every few hours complaining that their lawyer needs to hear from myconveyancer. What should have happened following completion?
After completion of your sale your solicitor is duty bound to deliver the transfer documentation and all of the paperwork to the purchaser's solicitors. Where appropriate, your lawyer must also evidence that the mortgage has been redeemed to the buyers solicitors. There is unlikely to be post completion formalities just for conveyancing in Flackwell Heath.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when acquiring a house in Flackwell Heath?
Unless a prior acquisition of the house took place post 12 October 2013 you may expect lawyers carrying out conveyancing in Flackwell Heath to continue to recommend a chancel search and or insurance against a claim.
It has been five months since my purchase conveyancing in Flackwell Heath took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My wife and I purchased a leasehold flat in Flackwell Heath. Conveyancing and Leeds Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Flackwell Heath who acted for me is not around. Any advice?
First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to incur the fees of a Flackwell Heath conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Flackwell Heath - A selection of Queries before Purchasing
-
What restrictions exist in the Flackwell Heath Lease? How long is the Lease? Can you tell me if there are any major works on the horizon that will likely add a premium to the maintenance fees?
I own a leasehold flat in Flackwell Heath. Conveyancing was completed in 2010. I have been told that I mustn’t let the lease length get too short. Why is that a problem?
Flackwell Heath leasehold properties are for a prescribed term - often 99 years when they are first granted. However a significant appartments in Flackwell Heath were constructed or converted in the 70’s80’s and so these leases now have less than 80 years remaining. This may sound like plenty of time but Banks, Building Societies and other mortgage lenders on the whole require leases to have at least seventy five years remaining to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are getting close to seventy five years. To increase the marketability of your property you should be thinking about whether to extend your lease long before you come to sell it. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease is less than eighty years the premium to be paid to extend starts to escalate.