What is the first thing I need to know concerning purchase conveyancing in Henley On Thames?
You may not hear this from too many lawyers but conveyancing in Henley On Thames and elsewhere in Oxfordshire is an adversarial process. In other words, when it comes to conveyancing there is an abundance of room for confrontation between you and others involved in the ownership transfer. E.g., the vendor, selling agent and on occasion the lender. Appointing a solicitor for your conveyancing in Henley On Thames should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the transaction whose responsibility is to protect your best interests and to protect you.
Every so often a third party with a vested interest will try and persuade you that it is in your interests to do things their way. As an example, the property agent may claim to be assisting by suggesting your solicitor is wrong. Or your mortgage broker may advise you to do take action that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties in the conveyancing process.
About to purchase a new build apartment in Henley On Thames. 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Henley On Thames
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. Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Henley On Thames is where the house is located. What do you suggest?
Flying freeholds in Henley On Thames are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Henley On Thames you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Henley On Thames 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.
Am I right to be wary that brokers that I am dealing with are recommending a nationwide conveyancing firm as opposed to a High Street Henley On Thames conveyancing firm?
As with lots of service providers, often referrals from connections can be very helpful. But there are numerous parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and banks might all suggest lawyers to appoint. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a commercial relationship behind the endorsement. You are at liberty to select your own lawyer. However, bear in mind that many mortgage providers have an approved list of solicitors you have to use for the mortgage aspect of your house move.
What are your top tips when it comes to choosing a Henley On Thames conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Henley On Thames conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non Henley On Thames conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be of use:
How familiar is the practice with lease extension legislation? How many lease extensions has the firm completed in Henley On Thames in the last year?
Leasehold Conveyancing in Henley On Thames - Sample of Questions you should ask Prior to Purchasing
Best to be warned if a new roof is being installed or some other major work is due shortly that will be shared between the tenants and will materially increase the the service costs or result in a one time payment. Its a good idea to find out as much as you can concerning the company managing the block as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day matters such as the cleanliness of the communal areas. Enquire of prospective neighbours if they are happy with them. On a final note, be sure you discover the dates that the service charges are due to the managing agents and specifically what you get for your money. If a Henley On Thames lease has fewer than eighty years it will have adverse implications on the marketability of the apartment. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you would need to own the residence for a couple of years in order to be eligible to extend the lease.