My colleague recommended that where I am buying in Fratton and Portsea I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Fratton and Portsea conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Fratton and Portsea around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Fratton and Portsea.
I moved into my apartment on 13 March and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Fratton and Portsea advises it would be recorded inside ten days. Are titles in Fratton and Portsea uniquely lengthy to register?
There is nothing unique about conveyancing in Fratton and Portsea registration formalities. As opposed to being determined by geographic area, timeframes can vary according to who lodges the application, whether there are errors and if the Land registry must send notices to any other parties. At present roughly 80% of submission are completed in less than three weeks but some can be subject to extensive delays. Historically registration is effected after the purchaser has moved in to the property so 'speed' is not always primary concern but where it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for the application to be prioritised.
I am buying a new build house in Fratton and Portsea with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of extras instead. The sale representative told me not to tell my solicitor about this extras as it could affect my mortgage with the lender. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Fratton and Portsea is the location of the property. Can you shed any light on this issue?
Flying freeholds in Fratton and Portsea are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fratton and Portsea you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fratton and Portsea may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My husband and I are new to the buying process - agreed a price, yet the property agent has warned us that the seller will only go ahead if we appoint their preferred solicitors as they want a ‘quick sale’. We would rather use a high street solicitor accustomed to conveyancing in Fratton and Portsea
We suspect that the seller is unaware of this demand. Should the vendor desire ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Bypass the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you are going to appoint your own,trusted Fratton and Portsea conveyancing solicitors - rather thanthe ones that will provide their negotiator at the agency a kickback or hit his conveyancing thresholds demanded by senior management.
I am a negotiator for a reputable estate agent office in Fratton and Portsea where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Fratton and Portsea conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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 buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible 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 buyer.
I am the registered owner of a 1 bedroom flat in Fratton and Portsea, conveyancing was carried out 7 years ago. How much will my lease extension cost? Corresponding properties in Fratton and Portsea with a long lease are worth £211,000. The ground rent is £50 charged once a year. The lease finishes on 21st October 2094
With just 68 years remaining on your lease we estimate the price of your lease extension to span between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.