It is a dozen years since I acquired my home in Steyning. Conveyancing solicitors have now been retained on the sale but I can't locate the title documents. Is this a problem?
Don’t worry too much. First the deeds may be with the mortgage company or they may be in the possession of the lawyers who acted in the purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Steyning relates to registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.
What can a local search reveal concerning the property my wife and I purchasing in Steyning?
Steyning conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search is essential in every Steyning conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
My wife and I have a 4 bedroom Georgian property in Steyning. Conveyancing practitioner represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Steyning and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing solicitor who carried out the work.
I am buying a new build house in Steyning with a mortgage from Skipton Building Society. The sellers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not inform my solicitor about this extras as it could affect my loan with the lender. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Steyning is where the house is located. What do you suggest?
Flying freeholds in Steyning are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Steyning you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Steyning 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 property.
I have just started marketing my 2 bed flat in Steyning. Conveyancing solicitors are to be appointed soon, however I have recently received a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you clear the maintenance contribution as normal as all ground rent and service charges should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a basement flat in Steyning, conveyancing formalities finalised in 2007. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Steyning with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2079
With just 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive 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 considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.