It is 10 years ago since I purchased my home in Sunningdale. Conveyancing lawyers have just been instructed on the sale but I can't locate my deeds. Is this a major issue?
Don’t worry too much. First the deeds may be retained by the lender or they could be archived with the solicitor who oversaw the purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Sunningdale relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
I am selling my home in Sunningdale. Does the conveyancer need to be on the Leeds Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I am selling our property in Sunningdale and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the buyers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Sunningdale. We have lived in Sunningdale for six years we know that this is a non issue. Should we contact our local Authority to seek clarification need.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
How does conveyancing in Sunningdale differ for new build properties?
Most buyers of new build property in Sunningdale approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Sunningdale typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Sunningdale or who has acted in the same development.
I decided to have a survey carried out on a property in Sunningdale ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies tend refuse to issue a loan on this type of property.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sunningdale. Conveyancing will be smoother if you use a solicitor in Sunningdale especially if they regularly deal with such properties in Sunningdale.
Do you have any top tips for leasehold conveyancing in Sunningdale from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Sunningdale can be avoided if you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers’ conveyancers. A minority of Sunningdale leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to unsettled. If you are supposed to have a share in the Management Company, you should ensure that you hold the original share certificate. Organising a replacement share certificate can be a lengthy formality and frustrates many a Sunningdale home move. If a reissued share certificate is necessary, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity.
Sunningdale Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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Many Sunningdale leasehold flats will be liable to pay a service bill for the upkeep of the building levied by the management company. If you purchase the property you will have to pay this contribution, usually periodically during the year. This may be anything from several hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent for you to pay yearly, normally this is not a exorbitant amount, say about £50-£100 but you need to enquire it because sometimes it could be surprisingly expensive. Who is in charge of the building? Does the lease have onerous restrictions?