Me and my fiance are acquiring a flat in Newark. My property lawyer has never been on on the mortgage company approved panel. Is it possible for me to continue with my Newark conveyancing solicitor even though they are not on the bank approved list?
Your options include
- Proceed with your preferred Newark lawyer but your lender will need to appoint a property lawyer on their approved panel. This will result in additional fees and probable frustration.
- Choose a new solicitor to conduct the conveyancing, ensuring that they are on the mortgage company conveyancing panel.
- Convince your conveyancer to seek to join the lender panel
five months have gone by following my purchase conveyancing in Newark completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build flat in Newark. Conveyancing is a frightening process 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 legal work.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Newark
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Newark is where the house is located. Can you offer any guidance?
Flying freeholds in Newark are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newark you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newark 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.
Given that I will soon part with over three hundred thousand on a garden flat in Newark I would like to have a conversation with the conveyancer regarding thehouse move prior to giving the go ahead to the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer who will be doing your property ownership legalities in Newark.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The solicitors that we put you in touch with believe that the figure you are quoted for residential conveyancing in Newark should be the figure that you end up paying.
What are your top tips when it comes to finding a Newark conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Newark conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you speak with two or three firms including non Newark conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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Can they put you in touch with clients in Newark who can give a testimonial?
Leasehold Conveyancing in Newark - Sample of Questions you should consider Prior to buying
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It is important to be aware if redecorating or some other major work is due in the near future to be shared between the leasehold owners and will dramatically impact the level of the service charges or require a one time payment. How many years are left on the lease? How many of the leaseholders are in arrears for their service charge payments?