Is there a reason why leasehold purchase conveyancing in Bitterne is more expensive?

Bitterne leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Bitterne?

There are many registered licenced Conveyancers in Bitterne and Solicitor practices in Bitterne to choose from It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. The two can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.

Can you help - my lawyer says that absentee landlord insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Bitterne?

The right level of absentee landlord indemnity insurance should be dictated by who your lender. It would differ for example between HSBC Bank and Chelsea Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.

The formalities of my purchase has taken place for my property in Bitterne. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?

All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.

Have purchased a a semi-detached house in Bitterne , how long should it take for the Land Registry to record the transfer to my name? My Bitterne conveyancing solicitor works at snail pace, so I want to be sure the registration is dealt with.

There is nothing unique when it comes to conveyancing in Bitterne registration formalities. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether it is in order and if the Land registry have to notify any other parties. At present approximately three quarters of such applications are fully dealt with within two weeks but some can be subject to extensive hold-ups. Historically registration occurs once the purchaser has moved in to the property so 'speed' is not typically top priority but where it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for the application to be prioritised.

I decided to have a survey done on a house in Bitterne before instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks may refuse to issue a mortgage on such a premises.

It varies from the lender to lender. Santander has different instructions for example to Halifax. Should you wish to telephone us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bitterne. Conveyancing will be smoother if you use a solicitor in Bitterne especially if they are accustomed to such properties in Bitterne.

What are the common defects that you witness in leases for Bitterne properties?

There is nothing unique about leasehold conveyancing in Bitterne. Most leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are wrong. The following missing provisions could result in a defective lease:

Clauses dealing with recovering service charges for expenditure on the building or common parts. Maintenance charge proportions which don’t add up to the correct percentage

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, The Royal Bank of Scotland, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.

Bitterne Conveyancing for Leasehold Flats - Sample of Queries before Purchasing

How many of the leaseholders are in arrears for their maintenance charge payments? How long is the Lease? The best form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this scenario the leaseholders enjoy control and notwithstanding that a managing agent is often retained where it is larger than a house conversion, the managing agent is directed by the tenants.