Just acquired a semi-detached house in Knutsford , how long should it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Knutsford conveyancing solicitor works at snail pace, so I want to check the registration is addressed.
There is nothing unique about conveyancing in Knutsford registration formalities. Rather than based on location, timeframes can differ according to the party submitting the application, whether it is in order and if the Land registry need to notify any third persons or bodies. Currently approximately 80% of such applications are completed within two weeks but occasionally there can be longer delays. Historically registration takes place after the new owner is living at the premises therefore post completion formalities is not typically top priority but if there is a degree of urgency associated with the registration then you or your lawyers should contact the land registry and explain the circumstances.
How does conveyancing in Knutsford differ for newly converted properties?
Most buyers of new build property in Knutsford contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Knutsford usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Knutsford or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Knutsford I like with amenity areas and transport links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Knutsford suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Do I need to be concerned by brokers that I am dealing with are suggesting an online conveyancing firm as opposed to a High Street Knutsford conveyancing company?
As is the case with many service providers, often recommendations from relatives can be very helpful. Nevertheless there are many players in a conveyancing matter; estate agents, financial adviser and lenders might all put forward solicitors to choose. Sometimes the solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a financial incentive behind the recommendation. You are at liberty to choose your own lawyer. Don't forget that many banks specify a panel list of lawyers you have to use for the lender aspect of your transaction.
I have recently realised that I have 68 years unexpired on my lease in Knutsford. I now wish to extend my lease but my freeholder is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to track down the lessor. For most situations a specialist may be useful to try and locate and prepare an expert document which can be used as proof that the freeholder is indeed missing. It is wise to seek advice from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Knutsford.
Leasehold Conveyancing in Knutsford - Sample of Questions you should ask Prior to buying
-
It is important to be aware whether changing the roof or some other significant cost is anticipated to be shared between the leaseholders and could well dramatically increase the the maintenance fees or result in a specific payment. It would be wise to discover as much as you can concerning the managing agents as they will either make life much easier or much more difficult. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day matters such as the tidiness of the common parts. Ask other tenants what they think of their management. On a final note, be sure you know the dates that the service charges are due to the managing agents and specifically what you get for your money. How much is the service charge and ground rent on the flat?
Me and my husband have recently had an offer accepted on a flat and had meeting on Wednesday with HSBC for the mortgage. They have informed us that when it comes to choosing a solicitor that unless they are on their approved panel of conveyancing practitioners then we will be subject to an an additional charge of £200. This is is due to the fact that they will then have to appoint a conveyancer to act on their behalf in addition to the one we select on our behalf and we are liable for their fees. I have requested HSBC to send me with a list so I can seek estimates only from their approved conveyancers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You should ask HSBC what their criteria for panel membership is for a solicitor.Then ask the conveyancer of your choice whether they meet the criteria and have they acted on loans for HSBC historically. Where the answer to those is yes, then just double check with HSBC. Another option is to use our search tool and we should be able to find you a conveyancing practitioner in Knutsford on the approved list for HSBC.