Completed the sale of my flat in Coningsby last April but my buyer keeps Skype messaging every few hours complaining that his lawyer needs to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your conveyancer is obliged to deliver the transfer documentation and all additional paperwork to the purchaser's conveyancer. Where relevant, your solicitor should also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers lawyers. There is unlikely to be post completion procedures specific conveyancing in Coningsby.
I am purchasing a garden flat in Coningsby. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Coningsby you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Coningsby.
I am purchasing my first flat in Coningsby with a mortgage from Leeds Building Society. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about the extras as it would jeopardize my loan with Leeds Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. Coningsby is where the house is located. Can you offer any assistance?
Flying freeholds in Coningsby are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Coningsby you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Coningsby may determine 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.
Can you provide any advice for leasehold conveyancing in Coningsby with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Coningsby can be avoided if you instruct lawyers the minute you market your property and request that they start to collate the leasehold information which will be required by the purchasers’ lawyers. The majority of freeholders or Management Companies in Coningsby charge for providing management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Coningsby. If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Organising a re-issued share certificate can be a time consuming formality and frustrates many a Coningsby home move. Where a new share is necessary, do contact the company director and secretary or managing agents (if applicable) for this sooner rather than later. Some Coningsby leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are 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.
I inherited a garden flat in Coningsby, conveyancing formalities finalised March 2010. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Coningsby with a long lease are worth £227,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2097
With 72 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.