I am under pressure from the owner of a property in Liversedge to sign contracts within four weeks. What can I do to speed up the legal process?
First, If the seller is applying pressure for your conveyancing it is highly recommended that your solicitor is familiar with the area as they will make use of local contacts and intelligence. It is even conceivable that they may have transacted previoushouses in the same neighbourhood. You would be best advised to use a Liversedge conveyancing firm. Second, check that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that nearly one in five of Liversedge conveyancing transactions are held up or derailed after discovering a purchaser’s lawyer was not on their banks member panel. This can often result in the legal transfer of property being frustrated by almost three weeks. It is understood that this issue impacts in the region of one hundred thousand home sales every year. Most Liversedge conveyancing firms can not represent certain lenders so do check as early as possible.
We're in Liversedge, First time buyers buying with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying a new build apartment in Liversedge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Liversedge
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Due to the advice of my in-laws I had a survey completed on a property in Liversedge before instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies will not issue a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you contact us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Liversedge. Conveyancing will be smoother if you use a solicitor in Liversedge especially if they are accustomed to such properties in Liversedge.
I am selling my home. My former conveyancers has retired. It would be helpful to have a recommendation of a conveyancing firm. Im based in Liversedge if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Liversedge. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
Last November I purchased a leasehold house in Liversedge. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Liversedge Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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The prefered form of lease arrangement is a share of the freehold. In this situation the tenants benefit from control and even though a managing agent is often employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Most Liversedge leasehold properties will have a service charge for the upkeep of the block invoiced on behalf of the landlord. Should you buy the flat you will have to meet this charge, usually in instalments accross the year. This could differ from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge for you to pay annual, normally this is not a significant figure, say around £50-£100 but you should to enquire it because sometimes it could be many hundreds of pounds. Please note if it is fewer than 80 years it will affect the value of the property. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely need a lease extension at some point and it is worth discovering how much this will be. Remember, in most cases you would need to own the property for a couple of years before you are eligible to carry out a lease extension.