I am in the process of selling my flat in Hilperton and the estate agent has just text me to warn that the buyers are changing their law firm. I am told that this is due to the fact that the lender will only work with property lawyers on their approved list. On what basis would a leading mortgage company only work with specific lawyers rather the firm that they want to select for their conveyancing in Hilperton ?
UK lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
I am need of leasehold conveyancing for an apartment in a fairly new development (five years old) in Hilperton. The vast majority the appartments have already been disposed of. Is it strictly necessary to order conveyancing searches as part of conveyancing in Hilperton?
You would be putting yourself at risk in not carrying out Hilperton conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would strongly advise in the strongest possible terms that you have them. Where accelerating the process and expenses are primary issues you should discuss with your lawyer about the options such as contingency insurance available to you
I require quick conveyancing in Hilperton as I am under pressure to sign on the dotted line within 3 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are not taking a home loan you have the choice not to do searches although no conveyancer would advise that you don't. With lots of history conveyancing in Hilperton the following are examples of what can show up and therefore affect the marketability of the property: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
My wife and I purchased a renovated Edwardian property in Hilperton. Conveyancing practitioner acted for me and Britannia. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hilperton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who carried out the work.
About to purchase a new build flat in Hilperton. Conveyancing is a frightening process 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 legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hilperton
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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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a leasehold apartment up to £195,000 and found one near me in Hilperton I like with a park and railway links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Hilperton for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.