My Frant lawyer has uncovered a difference between the assumptions in the valuation report and what is in the conveyancing documents. My lawyer has advised that he must ensure that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
It has been three months following my purchase conveyancing in Frant completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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.
I am buying a new build apartment in Frant. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Frant
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There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I am looking for a flat up to £305k and identified one near me in Frant I like with amenity areas and station nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Frant for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
My company is wishing to take over a lease of an office on a shopping parade. Can you recommend lawyers offering no-move-no charges for commercial conveyancing in Frant for under 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Frant, including the sale and acquisition of businesses as well as simply property. Whether you are looking to buy or lease a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. Regarding the charges these will vary based on the structure and nuances of the proposed transaction. Let us have your contact information or phone us so that we can provide you with a detailed commercial conveyancing calculation.
Having had my offer accepted I require leasehold conveyancing in Frant. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and 99.9% are in Frant - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Frant - Examples of Questions you should consider before Purchasing
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Is anyone aware of any major works in the planning that will increase the maintenance charges? The best form of lease structure is a share of the freehold. In this scenario the leaseholders benefit from control and notwithstanding that a managing agent is usually retained where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. What is the length of the lease?