My Conveyancer in Hassocks has never been on on the Godiva Mortgages Ltd Solicitor Panel. Is it possible for me to use my family solicitor even though they are not on the Godiva Mortgages Ltd list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your existing Hassocks lawyers but Godiva Mortgages Ltd will need to instruct a conveyancer on their panel. This will inevitably rack up the total legal fees as well as cause frustration.
- Find a new lawyer to to deal with the conveyancing, remembering to check they are Persuade your conveyancer to use their best endeavours to join the Godiva Mortgages Ltd conveyancing panel
What will a local search inform me concerning the house my wife and I buying in Hassocks?
Hassocks conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search plays an important part in most Hassocks conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search should provide information on, amongst other things, details on planning applications applicable to the premises (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 13 subject areas.
three months have elapsed since my purchase conveyancing in Hassocks took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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.
How does conveyancing in Hassocks differ for new build properties?
Most buyers of new build residence in Hassocks come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Hassocks typically buy 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 Hassocks or who has acted in the same development.
I am employed by a reputable estate agency in Hassocks where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Hassocks conveyancing solicitors. Please can you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a 2 bed flat in Hassocks, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Hassocks with a long lease are worth £197,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2081
With 56 years left to run we estimate the price of your lease extension to range between £29,500 and £34,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.