It is a dozen years since I acquired my home in Pound Hill. Conveyancing lawyers have just been retained on the sale but I am unable to find my title documents. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a possibility that the deeds will be retained by the lender or they could stored with the solicitor who handled the purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in Pound Hill involves registered property but in the rare situation where your home is not registered it is more problematic but is resolvable.
I am purchasing my first flat in Pound Hill with a mortgage from National Westminster Bank. The builders refused to budge the price so I negotiated £7000 of extras instead. The estate agent told me not inform my conveyancer about the side-deal as it could jeopardize my loan 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 ground for flat up to £305k and found one near me in Pound Hill I like with a park and transport links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Pound Hill in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I'm refinancing my existing home to a BTL loan with Chelsea Building Society and intend to use the remaining equity towards another house. The location we are interested in is Pound Hill. Will your solicitors be able to act for both sets of banks and tie in the conveyances?
Do use our search tool on this page to be sure that the solicitors are approved by both lenders. On the basis that they are your lawyer should be able to tie up the two deals but you should have a chat with you solicitor and communicate your desired outcome and requirements.
My partner has suggested that I use his conveyancing solicitors in Pound Hill. Should I choose my own solicitor?
There are no two ways about it the best way to select a conveyancing practitioner is to get guidance from friends or family who have actually used the conveyancer that you are are thinking of instructing.
Back In 2000, I bought a leasehold flat in Pound Hill. Conveyancing and Leeds Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing practitioner in Pound Hill who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Pound Hill conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Pound Hill Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
-
This question is useful as a) areas may cause problems for the building as the communal areas may start to deteriorate where services are not paid for b) if the tenants have an issue with the running of the building you will wish to have all the details Is there a share of the freehold? Its a good idea to find out as much as possible concerning the company managing the building as they can either make life much simpler or a lot more difficult. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues like the cleanliness of the communal areas. Enquire of other tenants what they think of them. Finally, find out the dates that you are obliged pay the service charge to the managing agents and precisely what it includes.