Much to our surprise we have been notified by our broker that my Hornsea property lawyer is not on the mortgage company Solicitor panel. How can I check?
The first thing you need to do is to contact your Hornsea lawyer directly. You lawyer should notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
My Hornsea lawyer has identified an inconsistency when comparing the information in the home valuation survey and what is revealed within the conveyancing documents. My solicitor informs me that he must check that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I purchased a renovated Georgian house in Hornsea. Conveyancing lawyer acted for me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be 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 Hornsea and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with your conveyancing lawyer who conducted the purchase.
About to purchase a new build apartment in Hornsea. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Hornsea
-
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I'm remortgaging my primary house to a BTL loan with Barclays and intend to use the remaining equity as a deposit on further property. The area we are interested in is Hornsea. Will your solicitors be able to act for both sets of lenders and link together the two deals?
Make use of our comparison tool on this page to check that the solicitors are approved by both banks. On the basis that they are the conveyancer will be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and specify your desired outcome and requirements.
Estate agents have just been given the go-ahead to market my 2 bed flat in Hornsea. Conveyancing is yet to be initiated, but I have recently received a half-yearly service charge demand – what should I do?
The sensible thing to do is pay the invoice as usual given that all ground rent and service invoices will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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. Having a clear account will assist your cause and will leave you no worse off financially.
Hornsea Leasehold Conveyancing - Sample of Questions you should ask Prior to Purchasing
-
Who manages the block? How many years remain on the lease? If a Hornsea lease has less than 80 years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you will need to own the premises for 24 months before you are eligible to extend the lease.