Is there a reason why leasehold purchase conveyancing in Hunstanton is more expensive?
The conveyancing charges on a leasehold premises in Hunstanton is frequently greater as compared to a freehold transaction. This is because there is an amount of additional time required in corresponding with the freeholder and management company to collate the information about whether the rent and maintenance charges have been paid and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.
We wanted to use a conveyancing solicitor in Hunstanton for our house move. Our broker informed us that our mortgage company HSBC Bank won't deal with them. Surely this is unduly restrictive?
Mortgage Companies tend to imposes restrictions either the type or the volume of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the type of firm, a few banks have reduced the amount of firms they allow to act for them. Be aware that HSBC Bank have no responsibility for the quality of advice provided by any member of HSBC Bank Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of conveyancing panels a few years ago even though there remains mixed views concerning the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that hundreds of law firms, including some in or near Hunstanton only perform a couple conveyances a year.
I completed on my flat on 4 July and the transaction details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Hunstanton said it will be dealt with in less than a month. Are transfers in Hunstanton uniquely lengthy to register?
There is nothing unique about conveyancing in Hunstanton registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any interested parties. Currently approximately 80% of submission are fully dealt with within 12 days but occasionally there can be longer hold-ups. Registration is effected once the buyer has moved in to the property therefore 'speed' is not usually an essential issue but if it is urgent that the the registration takes place urgently then you or your solicitor must contact the land registry and explain the circumstances.
My husband and I are novice buyers - agreed a price, yet the estate agent has warned us that the owners will only issue a contract if we appoint their chosen conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in Hunstanton
We suspect that the seller is unaware of this demand. If they desire ‘a quick sale', alienating a motivated buyer is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you are going to appoint your preferred Hunstanton conveyancing solicitors - rather thanthe ones that will provide their estate agent a commission or achieve conveyancing targets set by HQ.
I am looking at a two apartments in Hunstanton both have about 50 years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in Hunstanton. The lease is a right to use the premises for a prescribed time frame. As a lease shortens the saleability of the lease deteriorates and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this field.
I acquired a garden flat in Hunstanton, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Equivalent properties in Hunstanton with an extended lease are worth £260,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease finishes on 21st October 2099
You have 74 years unexpired we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.
I am an executor of my recently deceased mum’s Will, with a house in Hunstanton which will be sold. The bungalow is unregistered at the Land Registry and I'm advised that many estate agents will insist that it is completed before they'll move forward. What's the procedure for this?
In the situation you refer to it seems sensible to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.