My wife and I are buying a newly constructed duplex in Harrold and my conveyancer is informing me that she has to the bank to disclose incentives from the developer. I am on a tight deadline to exchange contracts and I have no desire to prolong 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 mortgage company 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.
We see that you have a search directory listing solicitors on the Clydesdale conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Harrold?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Harrold.
It has been 4 months following my purchase conveyancing in Harrold concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 premises 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.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Harrold is where the house is located. Is there any advice you can impart?
Flying freeholds in Harrold are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Harrold you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harrold 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 residence.
Can you provide any top tips for leasehold conveyancing in Harrold with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in Harrold can be reduced if you get in touch lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the purchasers’ lawyers. You believe that you know the number of years remaining on your lease but it would be advisable verify this via your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you are supposed to have a share in the freehold, you should ensure that you have the original share certificate. Organising a new share certificate can be a lengthy formality and slows down many a Harrold conveyancing deal. If a new share is needed, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible. If you have carried out any alterations to the property would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Harrold leases often stipulate that internal structural changes or laying down wooden flooring require a licence issued by the Landlord approving such works. Should you dont have the approvals to hand do not communicate with the landlord without checking with your solicitor in advance.
I inherited a basement flat in Harrold, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Harrold with over 90 years remaining are worth £206,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2084
You have 66 years unexpired we estimate the premium for your lease extension to span between £11,400 and £13,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.