Forgive me if this question is silly but I am unseasoned as FTB of a two bedroom flat in Lowestoft. Do I receive the keys to the property on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in Lowestoft?
On the day of completion you do not need to attend the conveyancers office in Lowestoft. Your solicitors will arrange to send the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be called to receive the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
My husband and I are spending time looking at apartments in Lowestoft and I am about to put in an offer. Should I already have a solicitor appointed at this point? I intend to finance via a home loan with Kent Reliance.
It would be wise to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are seeking a mortgage with Kent Reliance, ask your prospective lawyers if they are on the Kent Reliance conveyancing panel otherwise they can't do the mortgage legal work.
My offer was accepted on an apartment in Lowestoft on 7/11/2018, valuation was booked 3 days after, received a clean bill of health. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to TSB and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the TSB conveyancing panel. Are TSB entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Arc property Solicitors a few years past for my conveyancing in Lowestoft. I now require my file however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lowestoft of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Lowestoft. Conveyancing is daunting 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.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Lowestoft
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared.
I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Lowestoft I like with amenity areas and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Lowestoft for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension 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 solicitor concerning this matter.
I only have Seventy years unexpired on my flat in Lowestoft. I now wish to extend my lease but my landlord is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases an enquiry agent may be useful to conduct investigations and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Lowestoft.
Leasehold Conveyancing in Lowestoft - A selection of Questions you should consider Prior to Purchasing
Does the lease contain onerous restrictions? What is the name of the managing agents? What is the length of the lease?