I am considering applying for a UBS mortgage for purchase of a new build (under development) in Woodside Park with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for UBS ?
In theory, you could use a solicitor that is not on the UBS conveyancing panel, but UBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
five months have elapsed following my purchase conveyancing in Woodside Park completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Woodside Park. Conveyancing is a frightening process 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 selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Woodside Park
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. 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. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I have been on the look out for a flat up to £245,000 and identified one close by in Woodside Park I like with amenity areas and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Woodside Park for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises 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 speak to your conveyancing solicitor concerning this matter.
I am using a search engine for the words cheap conveyancing in Woodside Park it reveals numerous conveyancerslocally. How do I determine which is the right conveyancing solicitor for the sale of my house?
The best way of finding the right conveyancer is through a personal recommendation, so seek the counsel of friends and those you trust who have acquired a property in Woodside Park or a local estate agent or mortgage broker. Costs for conveyancing in Woodside Park vary, so it's a good idea to secure a minimum of three quotes from varying types of conveyancers. Be sure to secure confirmation that the fees are fixed.
The conveyancing solicitors carrying out our conveyancing in Woodside Park has forwarded papers to review that reveal that the land is unregistered with epitome documents. Is it not the case that all property in Woodside Park should be registered?
Although most properties in Woodside Park are now registered with HMLR there are still some that remain unregistered. Any property in Woodside Park that has been remortgaged since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Woodside Park property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Woodside Park conveyancing lawyers will be able to handle such matters but where uncertainty prevails the standard proposition nowadays is for the vendor’s solicitor to undertake the registration formalities first and thereafter sell - this will predictably result in a significant delay.