It is is a decade since I acquired my house in Idle. Conveyancing solicitors have now been instructed on the sale but I can't find my deeds. Will this cause complications?
You need not be too concerned. First the deeds may be with your lender or they may be in the possession of the lawyers who oversaw the purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Idle relates to registered property but in the unlikely event that your property is not registered it is more of a problem but is not insurmountable.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Idle. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Idle
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
I opted to have a survey done on a house in Idle prior to retaining conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some lenders will refuse to give a mortgage on such a house.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Idle. Conveyancing will be smoother if you use a solicitor in Idle especially if they are accustomed to such properties in Idle.
In my capacity as executor for the will of my grandfather I am selling a house in Swansea but I am based in Idle. My lawyer (who is 235 miles from mehas requested that I execute a statutory declaration before completion. Could you suggest a conveyancing practitioner in Idle who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are based in Idle
I am a negotiator for a long established estate agent office in Idle where we see a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Idle conveyancing firms. Please can you clarify whether the owner of a flat can initiate the lease extension process 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 proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Idle Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying
The prefered form of lease structure is a share of the freehold. In this scenario the tenants benefit from being in charge if their destiny and even though a managing agent is usually employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Is anyone aware of any major works on the horizon that will likely add a premium to the maintenance costs?