I just bought a flat at auction in Hale Barns. Conveyancing is required. What is next?
Now that you are to all intents and purposes signed on the dotted line you now have to find a conveyancing solicitor as a matter of urgency as you now have a fast approaching deadline in which to complete the property. Every auction property will ordinarily have an associated auction set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should give this to the conveyancer working for you ASAP. Do make sure that that you have the requisite funding in place to complete on the on the contractual date .
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Hale Barns solicitor on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Hale Barns bank branch on a couple of occasions and was advised it wasn't an issue and they would lend. My Hale Barns conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
Your conveyancing practitioner must comply with the CML Handbook section two requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What does a local search inform me concerning the house we're buying in Hale Barns?
Hale Barns conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search is essential in every Hale Barns conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Hale Barns is where the house is located. What do you suggest?
Flying freeholds in Hale Barns are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hale Barns you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hale Barns may ascertain 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.
How do I identify a Hale Barns law firm on the Nationwide Building Society conveyancing panel? I drive a motor bike and am happy to travel upto 20kilometers to meet the lawyer.
You can use the facility on this page. Please select a lender and your location and you will see a number of Hale Barns conveyancing lawyers located nearest you. We have listed some Hale Barns conveyancing firms at the bottom of this page and you can telephone them to verify whether they are on the Nationwide Building Society panel
I am hoping to complete next month on a basement flat in Hale Barns. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Hale Barns should include some of the following:
Does the lease prohibit wood flooring? Details of the parties to the lease, for instance these could be the lessee, head lessor, freeholder The physical ownership of the demise. This might be the flat itself but could also incorporate a loft or cellar if relevant. Your solicitors should enable you to have an understanding of the insurance provisions
I inherited a studio flat in Hale Barns, conveyancing having been completed 5 years ago. How much will my lease extension cost? Comparable flats in Hale Barns with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2095
With just 74 years unexpired we estimate the price of your lease extension to be between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.