It is is a decade since I acquired my home in Hopton. Conveyancing solicitors have recently been appointed on the sale but I am unable to locate my deeds. Will this jeopardise the sale?
You need not be too concerned. First there is a chance that the deeds will be retained by your mortgage company or they could be in the possession of the solicitor who acted in the purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Hopton involves registered property but in the rare situation where your property is not registered it is more tricky but is resolvable.
My friend recommended that where I am purchasing in Hopton I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Hopton conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Hopton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Hopton Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Hopton.
I have been on the look out for a flat up to £195,000 and found one round the corner in Hopton I like with a park and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Hopton for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Hoping to buy a property located in Hopton and I am already nervous. I couldn't find anything specific about Hopton. Conveyancing will be needed in due course but do you know about the Hopton area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hopton. In the meantime here are some basic statistics that we found
Last January I purchased a leasehold property in Hopton. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
I acquired a basement flat in Hopton, conveyancing having been completed November 2001. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Hopton with a long lease are worth £206,000. The ground rent is £45 yearly. The lease ceases on 21st October 2090
With 65 years left to run we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
My lawyer in Hopton is asking me for identification documents saying that this forms part of his obligations as a solicitor on the bank Conveyancing panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not unique to conveyancing in Hopton