I am need of leasehold conveyancing for a flat in a relatively new development (seven years built) in March. The vast majority the flats have already been disposed of. Is it strictly necessary to order local searches for my conveyancing in March?
You are taking a significant risk in refusing to carrying out March conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would strongly advise in no uncertain terms that you have them. If time pressures and cost are primary concerns you should consider with your conveyancer about the options such as lack of search insurance available to you
My uncle passed away six months ago and as sole heir and executor I was left the property in March. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this allowed?
If you plan to refinance then HSBC will require that you use a conveyancer on the HSBC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your HSBC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the HSBC mortgage is registered as a charge at the Land Registry.
Do I need to pay for insurance to cover chancel repairs when buying a property in March?
Unless a prior acquisition of the house took place post 12 October 2013 you can expect conveyancing practitioners conducting conveyancing in March to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified during conveyancing in March?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in March. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build apartment in March. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in March
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision.
My husband and I are first time buyers - had an offer accepted, yet the property agent has warned us that the seller will only move forward if we appoint the agent's recommended lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in March
We suspect that the owner is unaware of this ultimatum. Should the seller require ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you are going to appoint your preferred March conveyancing lawyers - not the ones that will earn their negotiator at the agency a referral fee or hit his conveyancing thresholds demanded by corporate headquarters.