I am purchasing a maisonette in Hove. My Conveyancer is not on the mortgage company solicitor list. Can I still continue with my Hove conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
You have a number of options open to you here
- Complete the deal with your existing Hove solicitor but your bank will undoubtedly instruct a property lawyer on their approved panel. The net result is additional charges together with probable interruption.
- Get a new property lawyer to act in the purchase, obviously checking they are on the lender conveyancing panel.
- Convince your property lawyer to apply to join the bank panel
Should my lawyer be asking questions concerning flooding during the conveyancing in Hove.
Flooding is a growing risk for conveyancers specialising in conveyancing in Hove. Plenty of people will purchase a property in Hove, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to offer advice on flood risk, however there are a number of checks that may be initiated by the purchaser or by their lawyers which should give them a better appreciation of the risks in Hove. The standard property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to discover if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the owner, then a buyer may commence a legal claim for losses resulting from an misleading response. A buyer’s lawyers should also order an environmental report. This should higlight if there is any known flood risk. If so, additional investigations should be made.
Are there restrictive covenants that are commonly identified as part of conveyancing in Hove?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Hove. 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…’
Due to the advice of my in-laws I had a survey completed on a property in Hove prior to retaining lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some banks will refuse to issue a loan on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hove. Conveyancing will be smoother if you use a solicitor in Hove especially if they regularly deal with such properties in Hove.
I need to retain a conveyancing solicitor for residential conveyancing in Hove. I have chance upon a site which seems to have the perfect offering If there is a chance to get all the legals done via web that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a busy estate agency in Hove where we have witnessed a number of leasehold sales derailed due to short leases. I have been given contradictory information from local Hove conveyancing solicitors. Can you confirm whether the owner of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Hove - Examples of Questions you should consider before buying
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How long is the Lease? Best to be warned whether a new roof is being put on or some other significant cost is coming up that will be shared by the tenants and may well dramatically increase the the maintenance costs or result in a specific payment. Please note that where the lease has no more than 80 years it will affect the value of the apartment. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this would cost. For most Hovelease extensions you would need to own the residence for two years before you are entitled to carry out a lease extension.