My wife and I own a renovated Georgian property in Hucknall. Conveyancing lawyer acted for me and Virgin Money. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. Is it worth asking Virgin Money to clarify?
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 Hucknall and other areas of 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 purchasers. You can also question the situation with the conveyancing practitioner who conducted the conveyancing.
The estate agent has sent us the confirmation of our purchase of a new build flat in Hucknall. Conveyancing is daunting 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.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Hucknall
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Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I have been recommended by three or four local selling agents in Hucknall to select a conveyancer on your site. What’s the financial inducement for Estate Agents to offer your services ahead of alternative conveyancing organisations?
We refuse to offer any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are first time buyers - had an offer accepted, but the property agent informed us that the vendor will only go ahead if we appoint their chosen lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer with experience of conveyancing in Hucknall
It is unlikely the owners are driving this. If they require ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Contact the owners directly and make sure they understand (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you intend to appoint your preferred Hucknall conveyancing solicitors - rather thanthe ones that will give the estate agent a commission or meet his conveyancing figures pre-set by head office.
I work for a busy estate agency in Hucknall where we have experienced a number of flat sales jeopardised due to short leases. I have received contradictory information from local Hucknall conveyancing solicitors. Please can you confirm whether the seller of a flat can initiate 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 Hucknall - Examples of Queries Prior to Purchasing
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Its a good idea to discover as much as possible about the company managing the block as they will affect your use and enjoyment of the property. As the owner of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the cleanliness of the communal areas. You should not be afraid to ask prospective neighbours if they are happy with them. In conclusion, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes. For most Hucknall leaseholds the cost for major works are not incorporated into the service charges, although some managing agents in Hucknall require leasehold owners to contribute towards a sinking fund and this is used to offset against larger works. What restrictions are contained in the Hucknall Lease?
My solicitor in Hucknall is asking me for identification documents asserting that this is part of his legal duty as a solicitor on the lender Solicitor panel. Can you confirm whether this is the case?
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 mortgage company. This is not unique to conveyancing in Hucknall