I'm in the process of viewing flats in Forest Row and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a home loan with Nottingham.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are taking out a mortgage with Nottingham, make sure you remember to check that your lawyer is on the Nottingham conveyancing panel.
Completion of my remortgage has taken place for my property in Forest Row. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I have finally had an offer on a maisonette in Forest Row agreed to, but there is a chain. The sellers have offered on somewhere, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Forest Row. What should be my next step? When do I get the mortgage application with Bank of Ireland going?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Forest Row conveyancing search charges, etc). First, you must ensure that your conveyancing practitioner is on the Bank of Ireland conveyancing panel. As to the next steps this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. In a buoyant market the majority of buyers will apply for the mortgage with Bank of Ireland and pay for the valuation and only if it was satisfactory would they ask their conveyancer to press on with searches.
My wife and I have a terraced Victorian house in Forest Row. Conveyancing practitioner acted for me and Leeds Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to 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 Forest Row and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing solicitor who completed the work.
How does conveyancing in Forest Row differ for new build properties?
Most buyers of new build property in Forest Row come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Forest Row 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 conveyancers 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 Forest Row or who has acted in the same development.
I am looking for a ground for flat up to £235,500 and identified one round the corner in Forest Row I like with amenity areas and railway links nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Forest Row in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
I am hoping to sign contracts shortly on a studio apartment in Forest Row. Conveyancing lawyers inform me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Forest Row should include some of the following:
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Where does the liability rest for maintaining the window frames Rent payments - what is payable and when is collected, and be on notice if this is subject to change Repair and maintenance of the premises Who has the liability to repair and maintain the block. It is important for you to know who is responsible the repair and maintenance of all parts of the block and estate It needs to be made clear to you whether the lease permits you to add or upgrade anything in the flat- you should be made aware as to whether any restrictions applies to all alterations or limited to structural alteration, and whether licences for alterations is required
I am the registered owner of a 2 bed flat in Forest Row, conveyancing having been completed February 2006. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Forest Row with over 90 years remaining are worth £207,000. The ground rent is £60 yearly. The lease comes to an end on 21st October 2082
You have 57 years remaining on your lease the likely cost is going to span between £28,500 and £33,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
I am buying a leasehold property in Forest Row. Conveyancing quotes are averaging around £1700. Does that seem right?
The average fee in 2014 for conveyancing in Forest Row was just over one thousand four hundred and fifty pounds not including SDLT and HMLR fees.