I am mortgaging my property in Glastonbury, does my lawyer need to be on the Principality Solicitor panel?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Glastonbury differ for new build properties?
Most buyers of new build property in Glastonbury contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is finished. This is because builders in Glastonbury tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Glastonbury or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Glastonbury is the location of the property. Can you offer any guidance?
Flying freeholds in Glastonbury are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Glastonbury you must be sure that your lawyer goes 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 Glastonbury may decide 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.
I've recently bought a leasehold house in Glastonbury. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, 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 Glastonbury - Sample of Questions you should consider Prior to Purchasing
How much is the annual maintenance fee and ground rent? Be sure to enquire if there are any onerous prohibitions in the lease. For instance it is very common in Glastonbury leases that pets are not permitted in in a block in Glastonbury. If you like the propertyin Glastonbury however your dog can’t make the move with you then you will be presented with a hard compromise. Is the freehold reversion owned collectively by the leaseholders?
What can I do to find out who is the owner of a property in Glastonbury?
Assuming that the premises is registered with the Land Registry, and you have requisite specifics of the location of the property, you will be able to see results from the HM Land Registry of the recorded owner for a for less than a fiver.