We are buying a newly built duplex in Hathern and my conveyancer is telling me that she has to the lender to disclose incentives from the seller. I am on a tight deadline to exchange contracts and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have been told that property searches are a common reason for obstruction in Hathern conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Hathern.
The estate agent has sent us the confirmation of our purchase of a new build flat in Hathern. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Hathern
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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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Hathern is where the house is located. Can you shed any light on this issue?
Flying freeholds in Hathern are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hathern you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hathern 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 premises.
Last September I purchased a leasehold house in Hathern. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Hathern Leasehold Conveyancing - A selection of Questions you should ask Prior to buying
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Can you tell me if there are any major works on the horizon that will likely increase the service charges? It is important to be aware whether fixing the lift or some other major work is coming up that will be shared between the tenants and will dramatically increase the the service fees or require a one off invoice. Who is in charge of the building?
Me and mypartner and I are in the market for a dependable conveyancing lawyer in Hathern to purchase a flat. I I am concerned about appointing the wrong one and there's lots of Hathern conveyancing practices out there...who do I opt for?
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