Please help - my lawyer says that chancel insurance is required on my purchase. What is the level of cover for Lifton conveyancing?
The right level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Halifax and Coventry Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I have paid off my mortgage with Nottingham. I assume I don't need a Lifton lawyer on the Nottingham panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
Intending to buy a flat in Lifton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lifton solicitor is on the Kent Reliance conveyancing panel.
My wife and I are downsizing from our property in Lifton and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A high street Lifton lawyer would know that there is no such problem. For the life of me I don't know why the buyers used an internet conveyancing firm rather than a conveyancing solicitor in Lifton. Having lived in Lifton for six years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I acquired my flat on 5 August and the transaction details is yet to be registered. Need I be worried? My conveyancing solicitor in Lifton said it would be dealt with inside ten days. Are titles in Lifton particularly slow to register?
There is nothing unique about conveyancing in Lifton registration formalities. Rather than based on location, timeframes can adjust subject to the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd parties. Currently approximately 80% of submission are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Registration occurs after the new owner is living at the premises therefore registration formalities is not usually top priority but where there is a degree of urgency associated with the registration then you or your solicitor should speak with the land registry and explain the circumstances.
How does conveyancing in Lifton differ for new build properties?
Most buyers of new build residence in Lifton contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Lifton tend to acquire the site, 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 property lawyers 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 accustomed to new build conveyancing in Lifton or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Lifton is where the house is located. What do you suggest?
Flying freeholds in Lifton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lifton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lifton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What advice can you give us when it comes to choosing a Lifton conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Lifton conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Lifton conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
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What volume of lease extensions has the firm completed in Lifton in the last year? How familiar is the practice with lease extension legislation?
Leasehold Conveyancing in Lifton - Sample of Questions you should ask Prior to buying
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The majority of Lifton leasehold properties will have a service charge for maintenance of the block invoiced by the management company. If you purchase the property you will have to meet this liability, normally periodically accross the year. This could vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a rentcharge to be met yearly, ordinarily this is not a exorbitant amount, say approximately £50-£100 but you should to check it because sometimes it can be prohibitively expensive. It is important to be aware if a new roof is being put on or some other major work is due shortly to be shared amongst the tenants and could well materially impact the level of the maintenance fees or result in a one time invoice. This question is important as a) areas can cause problems in the block as the common areas may start to deteriorate if maintenance are not paid for b) if the tenants have an issue with the managing agents you will wish to have all the details