Much to our surprise we have been told by our estate agent that my Rainford the law firm I have appointed is not on the mortgage company Solicitor panel. What can I do to check?
You need to call your Rainford lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they may be able to suggest a Rainford conveyancing practice that is on the conveyancing panel for your mortgage company.
It is a dozen years since I purchased my property in Rainford. Conveyancing lawyers have recently been retained on the sale but I can't locate the title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a possibility that the deeds will be with the mortgage company or they could be archived with the lawyers who acted in the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Most conveyancing in Rainford involves registered property but in the rare situation where your home is unregistered it is more of a problem but is resolvable.
I require quick conveyancing in Rainford as I have a deadline to sign on the dotted line inside 2 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?
As you are are a cash buyer you have the choice not to do searches although no lawyer would suggest that you don't. With plenty of history conveyancing in Rainford the following are examples of issues that can appear and adversely affect the marketability of the property: Refused Planning Applications, Overdue Charges, Overdue Grants, Railway Schemes,...
2 months have elapsed since my purchase conveyancing in Rainford took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 asset 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.
I'm purchasing my first flat in Rainford with the aid of help to buy. The builders refused to budge the price so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my conveyancer about the side-deal as it will jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am employed by a busy estate agency in Rainford where we see a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Rainford conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Rainford Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
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You should want to discover as much as you can regarding the company managing the block as they can either make living at the property much simpler or uncomfortable. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to every day issues like the upkeep of the communal areas. Enquire of other tenants if they are happy with their management. On a final note, find out the dates that the maintenance charges are due to the appropriate party and precisely how they are spending the funds. How is the lease structured?