Completed the sale of my flat in Norris Green last September yet the purchaser is calling me complaining that his solicitor is waiting to hear from mine. What are the post completion sale formalities following completion?
After completion of your disposal your lawyer is obliged to forward the transfer deeds and all of the paperwork to the buyer’s conveyancer. If applicable, your solicitor must also evidence that the home loan has been repaid to the purchasers solicitors. There are no post completion procedures peculiar conveyancing in Norris Green.
I have todaydiscovered that Wolstenholmes have been shut down. They conducted my conveyancing in Norris Green for a purchase of a leasehold flat 9 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The easiest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Norris Green conveyancing specialists.
I am buying a new build house in Norris Green with a loan from Leeds Building Society. The sellers would not budge the price so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my solicitor about this deal as it could jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Norris Green I like with a park and station in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Norris Green in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I want to sublet my leasehold apartment in Norris Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Notwithstanding that your previous Norris Green conveyancing lawyer is not around you can review your lease to check if it allows you to sublet the property. The rule is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain permission via your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet in the absence of first obtaining permission. Such consent must not not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord for their consent.
I own a 1st floor flat in Norris Green, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Norris Green with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2100
You have 75 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
We have appointed a Norris Green conveyancing solicitor for our home move (novice purchasers) and have spotted in the terms and conditions that they are not overseen by the FCA. Am I right to be concerned or is that standard with conveyancing practitioner?
We can't see why they should be. Most solicitor don't lend money. They should be governed by the Solicitors Regulation Authority, who dictate stringent laws in relation to funds deposited on client account.