Forgive me if this question is silly but I am unseasoned as a first time buyer of a garden flat in Aldborough Hatch.Do I receive the keys to the premises on the completion date from my solicitor? If so, I will instruct a local conveyancing solicitor in Aldborough Hatch?
On the day of completion you do not need to attend the conveyancers office in Aldborough Hatch. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be called to receive the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
I got the keys to my apartment on 12 April and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Aldborough Hatch said it should be concluded inside ten days. Are transfers in Aldborough Hatch uniquely lengthy to register?
As far as conveyancing in Aldborough Hatch is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can differ according to who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd parties. At present roughly 80% of such applications are fully addressed in less than three weeks but some can be subject to longer delays. Registration occurs once the purchaser is living at the property therefore an expedited registration is not always an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one close by in Aldborough Hatch I like with a park and transport links nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Aldborough Hatch suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.