We selected a high street solicitor for my conveyancing in Ewloe yesterday. Looking through the official terms of business it is apparent thatI am responsible for fees even where the conveyance does not complete. Should I go with them or use a web based solicitor practice promoting no-sale-no-fee conveyancing in Ewloe?
It is usually a trade off in that if "No Sale No Fee" is available then the conveyancing charges will generally be uplifted to offset those cases that abort. You should be mindful that such deals rarely protect you from outlay e.g. Ewloe conveyancing search charges.
We are buying a brand new flat in Ewloe and my solicitor is advising me that she is duty bound to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to exchange contracts and I have no desire to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
About to purchase a new build flat in Ewloe. 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 is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Ewloe
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Ewloe prior to instructing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will not issue a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ewloe. Conveyancing will be smoother if you use a solicitor in Ewloe especially if they are accustomed to such properties in Ewloe.
Do you have any advice for leasehold conveyancing in Ewloe from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Ewloe can be bypassed where you instruct lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors. If you hold a share in a the freehold, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a time consuming formality and slows down many a Ewloe conveyancing transaction. If a duplicate share is necessary, do contact the company officers or managing agents (if applicable) for this as soon as possible. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is under 75 years. It is therefore important at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. Many freeholders or managing agents in Ewloe levy fees for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Ewloe.
Leasehold Conveyancing in Ewloe - Examples of Questions you should consider Prior to buying
Are any of leasehold owners in dispute over their service charge liability? Are there any major works in the planning that will add a premium to the service costs? Is there a share of the freehold?