I do hope you can help me. My Seaton conveyancer is assuring me that she is duty bound toconduct Seaton conveyancing searches stemming from the fact thatthe firm are on the Santanderconveyancing panel. Is my conveyancer correct?
You have limited options available to you. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Seaton conveyancing searches.
Why is leasehold purchase conveyancing in Seaton is more expensive?
The conveyancing fees for a leasehold premises in Seaton is often higher as compared to a freehold property. This is due to the extra time necessary in corresponding with the freeholder and management company to collate the information about whether the rent and maintenance fee have been paid and whether there are any major works due in the near future on repairs or maintenance of the block.
I require quick conveyancing in Seaton as I have an ultimatum to complete inside 2 weeks. Thankfully I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are not taking a home loan you are at liberty not to have searches carried out although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Seaton the following are examples of what can be revealed and therefore impact the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
Just had an offer accepted on a new build flat in Seaton. Conveyancing is necessary evil 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 Seaton
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Last August I purchased a leasehold house in Seaton. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a leasehold flat in Seaton, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar properties in Seaton with an extended lease are worth £255,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2098
With 73 years left to run the likely cost is going to range between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
There are a number of houses in Seaton on private lanes. We are buying such a house. What are the advantages and disadvantages of purchasing a house on a privately owned road?
Seaton conveyancing practices will be well versed in conveyancing houseson unadopted roads. The solicitor will review the title to identify any rights or liabilities. In many cases there is a residents association that owners make annual payments to maintain the road. If there is one, the road should be maintained and look nicer than council maintained.