Have completed on a a semi-detached house in Noak Hill , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Noak Hill conveyancing solicitor has been very slow, so I want to be sure that my name is registered.
There is nothing unique about conveyancing in Noak Hill registration formalities. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether there are errors and if the Land registry must send notices to any other parties. At present roughly 80% of submission are completed within 12 days but occasionally there can be protracted delays. Historically registration takes place once the buyer is living at the premises so 'speed' is not always an essential issue but if there is a degree of urgency associated with the registration then you or your solicitor must communicate with the Registry to express the reasoning for the application to be prioritised.
I'm purchasing a new build house in Noak Hill with a loan from Leeds Building Society. The developers would not move on the amount so I negotiated 6k of additionals instead. The sale representative advised me not to tell my solicitor about the extras as it may affect my mortgage with Leeds Building Society. Should I keep quiet?.
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.
I have been sourcing a conveyancing practitioner in Noak Hill for my sale. Is it possible to check a solicitor's record with the legal regulator?
You may review presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes monitor call for training requirements.
I am tempted by the attractive purchase price for a two apartments in Noak Hill both have in the region of fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Noak Hill is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Noak Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the proprietor of a two-bedroom flat in Noak Hill. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
if there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the price.
An example of a Lease Extension case for a Noak Hill premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term was 57.5 years.
I happen to be an executor of my recently deceased parent's Will, with a property in Noak Hill which is to be marketed. The property has never been registered at HMLR and I'm told that some purchasers will insist that it is done before they will proceed. What's the mechanism for this?
In the circumstances that you have set out it seems sensible to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.