I am need of leasehold conveyancing for a flat in a relatively new development (five years built) in Southsea. Almost all the flats are already sold. Is it strictly necessary to order neighbourhood searches as part of conveyancing in Southsea?
You would be putting yourself at risk in not carrying out Southsea conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal necessity to have them, but we would seriously advise in no uncertain terms that your lawyer conducts them. If timings and expenses are top of your concerns you should discuss with your conveyancer about the options such as lack of search insurance available to you
My grandfather passed away six months ago and as sole heir and executor I was left the house in Southsea. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Barclays, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then Barclays will require that you use a conveyancer on the Barclays conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Barclays conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Barclays mortgage is registered as a charge at the Land Registry.
I require expedited conveyancing in Southsea as I am faced with pressure to sign on the dotted line in less than 4 weeks. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not taking a mortgage you are at liberty not to do searches although no lawyer would advise that you don't. With plenty of history conveyancing in Southsea the following are examples of issues that can show up and therefore impact future saleability: Enforcement Actions, Outstanding Fees, Overdue Grants, Railway Schemes,...
I'm purchasing a new build house in Southsea with a loan from Clydesdale. The builders refused to reduce the price so I negotiated £7000 of extras instead. The sale representative advised me not reveal to my solicitor about this extras as it will impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
My father has urged me to use his conveyancing solicitors in Southsea. Do I take his advice?
No doubt the ideal way to choose a conveyancing lawyer is to seek referrals from friends or relatives who have previously instructed the solicitor you're are thinking of instructing.
Completion is due on the disposal of our £150,000 garden flat in Southsea in 10 days. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Southsea?
For the majority of leasehold sales in Southsea conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-contract questions
Where consent is required before sale in Southsea
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a basement flat in Southsea, conveyancing was carried out 10 years ago. Can you work out an approximate cost of a lease extension? Similar properties in Southsea with over 90 years remaining are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2102
With only 76 years unexpired we estimate the price of your lease extension to span between £8,600 and £9,800 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.