The Littlehampton conveyancing firm handling our Littlehampton conveyancing has spotted a difference when comparing the assumptions in the home valuation report and what is revealed within the title deeds. My solicitor informs me that he needs to check that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s approach appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Having sold my house in Littlehampton last June yet the purchaser is calling every few hours complaining that their solicitor is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your solicitor should forward the transfer deeds and all supplemental paperwork to the buyer’s solicitors. If applicable, your conveyancer should also confirm that the mortgage has been repaid to the purchasers solicitors. There are no post completion steps specific conveyancing in Littlehampton.
My flat in Littlehampton is up for sale and I have a purchaser. Does my conveyancing practitioner need to be on the Coventry BS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My wife and I purchased a renovated Edwardian property in Littlehampton. Conveyancing lawyer acted for me and Clydesdale. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the matching address. Is it worth asking Clydesdale to clarify?
You should read the Freehold register you have again and check the Charges Register for 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 Littlehampton and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
Due to the input of my in-laws I had a survey completed on a house in Littlehampton in advance of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend refuse to issue a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Littlehampton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Littlehampton to see if the conveyancing costs will increase in light of this.
I work for a long established estate agent office in Littlehampton where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Littlehampton conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. 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 sale.
Alternatively, it may be possible 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 2 bed flat in Littlehampton, conveyancing was carried out October 2011. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Littlehampton with a long lease are worth £171,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2105
With 79 years unexpired the likely cost is going to span between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.