Finally the sale completed on my house in Liphook last July but our buyer keeps Skype messaging every few hours to moan that her solicitor is waiting to hear from mine. What should have happened following completion?
Following your disposal your conveyancer should forward the transfer documentation and all supplemental paperwork to the buyer’s solicitors. If applicable, your lawyer must also confirm that the home loan has been paid off to the purchasers conveyancers. There is unlikely to be post completion tasks specific conveyancing in Liphook.
we are a couple who are hoping to buy a newly converted apartment in Liphook with a mortgage from National Westminster Bank.We have a Liphook conveyancing lawyer but National Westminster Bank says he's not listed on their "panel". we are left little option but to use a National Westminster Bank panel solicitor or keep our preferred solicitor and fork out for a National Westminster Bank panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that National Westminster Bank use our lawyer?
Unfortunately,no. The home loan issued to you is subject to its various provisions, one of which will be that conveyancers must be on the National Westminster Bank conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for National Westminster Bank
I own a semi-detached Edwardian house in Liphook. Conveyancing solicitor acted for me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Liphook and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who conducted the conveyancing.
I opted to have a survey completed on a property in Liphook ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some banks will not issue a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to call us we can check with 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 Liphook. Conveyancing will be smoother if you use a solicitor in Liphook especially if they regularly deal with such properties in Liphook.
I need to retain a conveyancing solicitor for remortgage conveyancing in Liphook. I have discover a site which seems to have the ideal answer If there is a chance to get all the legals done via email that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I work for a long established estate agent office in Liphook where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Liphook conveyancing firms. Can you shed some light as to whether the vendor 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 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.
An alternative approach is 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.
I own a basement flat in Liphook, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Liphook with over 90 years remaining are worth £197,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2081
With 55 years left to run the likely cost is going to span between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.