My partner and I are buying our first house. Our solicitor has messagedto ask if we would like to purchase extra conveyancing searches. As novices we are clueless as to what's necessary for conveyancing in Peterborough
The type of Peterborough conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your knowledge of the locality and risks, your general approach to risk. What is important is that you properly appreciate what information the searches could supply. You may then make a decision if you personally think you need that information. If unsure, ask your lawyer to advise.
It is is a decade since I bought my home in Peterborough. Conveyancing lawyers have recently been retained on the sale but I am unable to locate my title documents. Is this a problem?
Don’t worry too much. First the deeds may be kept by the mortgage company or they could be in the possession of the solicitor who oversaw your purchase. Secondly in all probability the land will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. The vast majority of conveyancing in Peterborough involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
What is the difference between a licensed conveyancer and conveyancing solicitor in Peterborough
There are two types of lawyers who can carry out conveyancing in Peterborough namely licenced conveyancers or solicitors. The two can administer the legal services that required to complete the sale or acquisition of property. They are both obliged to execute Peterborough conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be professionally conducted and that the necessary procedures will be appropriately followed.
I am buying a 3 bedroom semi in Peterborough. We would like to an extension at the rear at the house.Will the conveyancing process include enquiries to see if these works are permitted?
Your solicitor will check the deeds as conveyancing in Peterborough will occasionally identify restrictions in the title documents which prevent certain alterations or require the permission of a 3rd party. Some works call for local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor ahead of any purchase.
I have paid off my mortgage with HSBC. I assume I don't need a Peterborough conveyancer on the HSBC panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
About to purchase a new build apartment in Peterborough. Conveyancing is daunting 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 selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Peterborough
Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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. 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.
What are the frequently found problems that you encounter in leases for Peterborough properties?
There is nothing unique about leasehold conveyancing in Peterborough. Most leases are drafted differently and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
A duty to insure the building
You could encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Virgin Money, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the purchaser to withdraw.
Leasehold Conveyancing in Peterborough - Sample of Questions you should consider before buying
Is there a share of the freehold? What is the maintenance charge and ground rent on the property? It is important to be aware whether fixing the lift or some other major work is pending that will be shared by the leasehold owners and will dramatically increase the the service charges or necessitate a one off payment.