My house in Frizington is up for sale and I have a buyer. Does my conveyancer need to be on the Principality conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Principality 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 in recent years.
It has been four months since my purchase conveyancing in Frizington concluded. I have checked the Land Registry website which shows that I paid £175,000 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 asset 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 Frizington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Frizington
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. 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. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a leasehold apartment up to £305k and found one close by in Frizington I like with amenity areas and station in the vicinity, however it's only got 52 years on the lease. There is not much else in Frizington for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am hoping to sign contracts shortly on a garden flat in Frizington. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Frizington should include some of the following:
specifics of the parties to the lease, for instance these could be the (you), head lessor, freeholder Defining your rights in respect of the communal areas in the block.By way of example, does the lease provide for a right of way over a path or staircase? Responsibility for maintaining the window frames How long the lease is. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
Frizington Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
It would be wise to discover as much as you can about the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical matters like the tidiness of the communal areas. You should not be shy to ask other tenants what they think of them. Finally, find out the dates that the maintenance fees are due to the managing agents and precisely what it includes. Is there a share of the freehold? What is the name of the managing agents?