I have an AIP. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather use a Great Linford based conveyancing firm?
Do check but the the likelihood is that give you one of their panel lawyers where you accept the "fee-free" offer. Call the bank and ask if they allow a monetary alternative. Some lenders have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Great Linford.
I am buying a new build flat in Great Linford. Conveyancing is daunting 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 Great Linford
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Great Linford is where the house is located. Can you offer any advice?
Flying freeholds in Great Linford are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Great Linford you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Great Linford 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 residence.
I'm refinancing my existing home to a buy to let loan with Yorkshire Building Society and intend to use the remaining equity as a down payment on further house. The location we are looking at is Great Linford. Will your solicitors be able to act for both sets of mortgage companies and tie in the transactions?
Do use our comparison tool on this page to check that the lawyers are on the appropriate lender panels. Having checked that they are your solicitor should be able to tie up the two transactions but you should have a chat with you conveyancer and make apparent your desired outcome and requirements.
Last August I purchased a leasehold property in Great Linford. Am I liable to pay service charges relating to a period prior to 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).
Great Linford Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
Is anyone aware of any major works on the horizon that will increase the service costs? If a Great Linford lease has less than eighty years it will impact the salability of the apartment. Check with your bank that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and it is worth finding out what this will be. For most Great Linfordlease extensions you will need to own the residence for two years before you are entitled to extend the lease.