Would the conveyancing practitioners that you recommend carry out auction conveyancing in Somersham?
There are a number of niche practitioners we can put you in touch with those conducting auction conveyancing. Somersham is one of the many areas of in which our lawyers have offices.
The Somersham conveyancing firm that just started acting on my purchase in Somersham have without warning closed. I only went with them because I had to have a lawyer on the Virgin Money conveyancing panel and my preferred Somersham lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I am buying a new build apartment in Somersham. 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 legal work.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Somersham
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 supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.
Due to the advice of my in-laws I had a survey completed on a house in Somersham prior to instructing solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some banks will not issue a mortgage on this type of premises.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Somersham. Conveyancing will be smoother if you use a solicitor in Somersham especially if they regularly deal with such properties in Somersham.
I work for a busy estate agency in Somersham where we see a few leasehold sales put at risk as a result of short leases. I have been given contradictory information from local Somersham conveyancing firms. Please can you confirm whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease 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. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
Leasehold Conveyancing in Somersham - A selection of Questions you should ask Prior to buying
Is there a share of the freehold? What restrictions are contained in the Somersham Lease? It would be prudent to investigate if there is anything that is prohibited in the lease. By way of example it is very common in Somersham leases that pets are not permitted in certain buildings in Somersham. If you love the apartmentin Somersham however your dog can’t live with you then you will be presented with a difficult choice.