My mortgage broker says he needs my Hassocks solicitor’s panel member for the Nationwide conveyancing panel. Can you suggest how I find this out. I have contacted my local Hassocks office but they don't know it.
Have you tried calling your Hassocks lawyer about this?. Most Hassocks conveyancing firms will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
Should my lawyer be making enquiries about flooding as part of the conveyancing in Hassocks.
Flooding is a growing risk for conveyancers dealing with homes in Hassocks. Plenty of people will acquire a property in Hassocks, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a various checks that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Hassocks. The conventional set of information supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the seller to discover whether the property has suffered from flooding. If the premises has been flooded in past which is not notified by the vendor, then a buyer may commence a legal claim for losses as a result of such an incorrect response. The purchaser’s lawyers may also conduct an environmental report. This should indicate whether there is any known flood risk. If so, more detailed investigations will need to be initiated.
About to purchase a new build flat in Hassocks. Conveyancing is a frightening process 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.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Hassocks
Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan.
I have been on the look out for a ground for flat up to £305k and identified one near me in Hassocks I like with a park and railway links nearby, however it only has 49 years on the lease. There is not much else in Hassocks in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
Do you have any top tips for leasehold conveyancing in Hassocks with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Hassocks can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers’ solicitors. Some Hassocks leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. Many freeholders or managing agents in Hassocks charge for supplying management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Hassocks. If there is a history of conflict with your landlord or managing agents it is essential that these are resolved prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You will have to accept that you will have to discharge any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as over as opposed to unresolved.
Hassocks Leasehold Conveyancing - Examples of Queries Prior to buying
Does the lease have in excess of 90 years unexpired? What prohibitions are there in the Hassocks Lease?