Why is leasehold purchase conveyancing in Hythe costs more?
Hythe leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Please explain the implications if my solicitor is expelled from the Nottingham Solicitor panel ahead of completing my conveyancing in Hythe?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I purchased a 4 bedroom Georgian property in Hythe. Conveyancing lawyer represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
You should read 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 Hythe 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 mortgage companies. You can also question the situation with your conveyancing lawyer who conducted the conveyancing.
I decided to have a survey completed on a house in Hythe before instructing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies may refuse to give a mortgage on this type of premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hythe. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hythe to see if the conveyancing will be more expensive.
What tools are available to search for a Hythe solicitor on the Alliance & Leicester conveyancing panel? I am a keen cyclist and am happy to travel upto 20kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please select a mortgage company and your location and you will see a number of Hythe conveyancing lawyers located nearest you. We have listed some Hythe conveyancing firms towards the end of this page and you can telephone them to check whether they are on the Alliance & Leicester member panel
Estate agents have just been given the go-ahead to market my ground floor flat in Hythe. Conveyancing solicitors are to be appointed soon, however I have recently had a half-yearly service charge invoice – what should I do?
The sensible thing to do is pay the invoice as usual as all rents and maintenance payments should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents 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. This will smooth the conveyancing process.
Leasehold Conveyancing in Hythe - Examples of Questions you should consider before buying
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Where a Hythe lease has less than 80 years it will affect the marketability of the apartment. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and it is worth discovering what this would cost. For most Hythelease extensions you will need to own the premises for 24 months in order to be eligible to extend the lease. Plenty Hythe leasehold apartments will incur a service charge for the upkeep of the building set on behalf of the landlord. If you purchase the flat you will have to pay this amount, usually in instalments throughout the year. This can be anything from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent to be met yearly, normally this is not a exorbitant figure, say about £25-£75 but you should to enquire it because on occasion it could be many hundreds of pounds. How much is the maintenance charge and ground rent on the flat?