A colleague recommended that if I am buying in Fratton and Portsea I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Fratton and Portsea conveyancing searches. It is a large document of about 40 pages, listing and setting out important 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 demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Fratton and Portsea Education with plans and statistics, Local Amenities and other useful data about Fratton and Portsea.
Have completed on a a detached house in Fratton and Portsea , how long will it take for the Land Registry to record my ownership? My Fratton and Portsea conveyancing solicitor works at snail pace, so I want to be certain that my ownership is recorded.
As far as conveyancing in Fratton and Portsea is concerned, registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether it is in order and if the Land registry must send notices to any 3rd persons or bodies. As of today in the region of 80% of such applications are completed within 12 days but some can be subject to protracted delays. Registration occurs after the purchaser is living at the premises thus registration formalities is not usually an essential issue but where it is urgent that the the registration takes place urgently then you or your lawyers must contact the land registry and explain the circumstances.
I am purchasing my first flat in Fratton and Portsea with the aid of help to buy. The builders would not budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about the deal as it may impact my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Fratton and Portsea is where the house is located. Can you shed any light on this issue?
Flying freeholds in Fratton and Portsea are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fratton and Portsea you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fratton and Portsea may ascertain 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 property.
My husband and I are new to the buying process - agreed a price, but the property agent has warned us that the vendor will only go ahead if we use their preferred conveyancers as they need an ‘expedited deal’. We would rather use a local solicitor used to conveyancing in Fratton and Portsea
We suspect that the seller is unaware of this ultimatum. Should the owner want ‘a quick sale', turning down a serious buyer is going to damage their objectives. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you will continue to instruct your own,trusted Fratton and Portsea conveyancing lawyers - as opposed tothose that will earn their negotiator at the agency a introducer fee or meet his conveyancing figures set by head office.
I am a negotiator for a reputable estate agent office in Fratton and Portsea where we have witnessed a few leasehold sales put at risk due to short leases. I have been given contradictory information from local Fratton and Portsea conveyancing solicitors. Could you clarify whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. The benefit of this is that the proposed purchaser 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 inherited a 1st floor flat in Fratton and Portsea, conveyancing was carried out May 2005. How much will my lease extension cost? Comparable flats 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
You have 68 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 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 detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to 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.