Forgive me if this question is silly but I am new to the house moving as a first time purchaser of a garden flat in Bishops Stortford. Do I collect the keys to the property on completion from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Bishops Stortford?
On the day of completion you do not need to go to the conveyancers office in Bishops Stortford. Your solicitors will electronically transfer the purchase money to the seller's solicitors, and once they have received this, you should be invited to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
I am purchasing a terrace house in Bishops Stortford. Our aim is to an extension at the rear at the house.Will legal conveyancing on the property include investigations to ascertain if these alterations were previously refused?
Your property lawyer should check the registered title as conveyancing in Bishops Stortford can occasionally reveal restrictions in the title documents which prohibit categories of works or necessitated the consent of another owner. Many works call for local authority planning permissions and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
We have agreed to purchase a house in Bishops Stortford. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
As your lender is Bank of Ireland your lawyer must comply with the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook stipulates minimum conditions for solar panel roof-space leases, and solicitors are required to report to Bank of Ireland where a lease fails to meet these requirements. The provisions relate to the installation of panels on properties nationwide and is not restricted to Bishops Stortford.
I require fast conveyancing in Bishops Stortford as I am under pressure to exchange contracts in less than 2 weeks. Fortunately I do not need a mortgage. Can I avoid the conveyancing searches to save money and time?
If.Given you are not obtaining a mortgage you are at free not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Bishops Stortford the following are examples of issues that can show up and therefore affect the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Road Schemes,...
I have a 4 bedroom Victorian property in Bishops Stortford. Conveyancing practitioner represented me and The Royal Bank of Scotland. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bishops Stortford and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing practitioner who conducted the conveyancing.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Bishops Stortford I like with a park and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Bishops Stortford in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I've recently bought a leasehold property in Bishops Stortford. Do I have any liability for service charges for periods before completion of my purchase?
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. Strange as it may seem, 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 be sure 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).
Leasehold Conveyancing in Bishops Stortford - Examples of Queries before Purchasing
You should be aware if it is fewer than 80 years it will affect the value of the apartment. Check with your mortgage company that they are happy with residual term of the lease. A short lease means that you will most likely need a lease extension sooner rather than later and it is worth finding out what this will be. For most Bishops Stortfordlease extensions you will be be obliged to have owned the residence for 24 months in order to be entitled to exercise a lease extension. Best to be warned if fixing the lift or some other significant cost is coming up to be shared amongst the tenants and could well dramatically impact the level of the maintenance charges or result in a one off invoice.