I am purchasing a property mortgage free in Warrington. I have been residing for the previous 15 years in Warrington. Conveyancing searches are exorbitant. As I have knowledge of the road and vicinity intimately must I have all the conveyancing searches?
In the absence of a home loan, then almost all of the Warrington conveyancing searches are optional. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches done, but he has a professional duty to do this. One thing to bear in mind; if you are going to dispose of the house at a future date, it could be of interest to your future purchaser what the searches reveal. On occasion properties with apparent issues can still reveal unexpected search results. A competent conveyancing solicitor in Warrington will be able to give you some helpful guidance concerning this.
Finally the sale completed on my house in Warrington last June yet the purchaser is telephoning me to say their conveyancer needs to hear from mylawyer. What should have happened now that I have sold?
Following your house sale your lawyer is duty bound to deliver the transfer documentation and all additional paperwork to the purchaser's conveyancer. Where relevant, your solicitor must also send confirmation that the home loan has been discharged to the buyers solicitors. There are no post completion procedures unique to conveyancing in Warrington.
Me and my brother purchased a 4 bedroom Victorian property in Warrington. Conveyancing lawyer represented me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Warrington and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing solicitor who carried out the work.
I'm purchasing a new build house in Warrington benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not inform my conveyancer about this extras as it could affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Last April I purchased a leasehold flat in Warrington. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Warrington - A selection of Queries before Purchasing
It would be sensible to discover as much as possible concerning the company managing the block as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the common parts. Enquire of prospective neighbours what they think of them. In conclusion, be sure you discover the dates that you are obliged pay the service charge to the managing agents and specifically how they are spending that money. Are any of leasehold owners in arrears of their service charge liability? How many years are left on the lease?