I have just been advised by my mortgage adviser that my Hockley property lawyer is not on the mortgage company Conveyancing panel. How can I check?
The first thing you need to do is to contact your Hockley lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may recommend you to a Hockley conveyancing firm that is on the conveyancing panel for your bank.
We are due to exchange on the purchase of a property in Hockley but as a result of damage from a small fire at the property I have managed to agree compensation from the current proprietors of £3k by way of a adjustment in the price. This was going to be dealt with as part of a side agreement however Santander are not allowing this. Why were they informed?
The property lawyer that is on the Santander conveyancing panel is duty bound to advise Santander of any variations to the sale price. If you were to refuse your conveyancer to disclose the reduction to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in Hockley.
Are there restrictive covenants that are commonly identified during conveyancing in Hockley?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hockley. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Hockley. Conveyancing is necessary evil 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 is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Hockley
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are architect prepared. 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.
My business partner and I are looking to lease a unit on a shopping parade. Can you recommend conveyancers offering no-sale-no charges for commercial conveyancing in Hockley for less than £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Hockley, including the sale and acquisition of businesses as well as simply premises. Whether you are intending to purchase or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right lawyer. As for the costs these will vary based on the structure and nuances of the proposed transaction. Let us have your contact information or call so as to enable us to furnish you with a detailed commercial conveyancing calculation.
I have just appointed agents to market my garden flat in Hockley. Conveyancing has not commenced, however I have recently received a quarterly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge the maintenance contribution as normal given that all ground rent and maintenance invoices should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Hockley Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
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Who is in charge of the building? It would be sensible to discover as much as you can regarding the managing agents as they can either make your life much easier or uncomfortable. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to daily issues like the upkeep of the communal areas. Don't be afraid to ask prospective neighbours what they think of their service. In conclusion, find out the dates that the service charges are due to the appropriate party and specifically what you get for your money. It is important to be aware whether window replacement or some other major work is pending to be shared amongst the leaseholders and may well dramatically increase the the maintenance charges or require a specific payment.