We have agreed to purchase a house in Belbroughton. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that your lender is Barclays your lawyer must comply with the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and solicitors are required to report to Barclays where a lease fails to satisfy these specifications. The requirements relate to the installation of panels on properties nationwide and is not limited to Belbroughton.
It is not clear whether my bank requires a lease extension. I have called my Belbroughton bank branch on numerous occasions and was informed it wasn't a problem and they would lend. My Belbroughton conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend in accordance with their published requirements. I have no idea who is right.
As long as the lawyer is on the lender approved list, they must follow the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After shopping around on the internet I have found a Belbroughton solicitor having checked that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Belbroughton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Will commercial conveyancing searches disclose impending roadworks that could affect a commercial site in Belbroughton?
Many commercial conveyancing solicitors in Belbroughton will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Belbroughton. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Belbroughton.
For every commercial conveyancing transaction in Belbroughton it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Belbroughton commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Belbroughton.
Are there restrictive covenants that are commonly identified during conveyancing in Belbroughton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Belbroughton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Belbroughton with a loan from Coventry Building Society. The sellers would not budge the amount so I negotiated 6k of additionals instead. The sale representative suggested that I not inform my lawyer about the deal as it could impact my mortgage with Coventry Building Society. Do I keep my lawyer in the dark?.
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.
Due to the guidance of my in-laws I had a survey completed on a property in Belbroughton in advance of appointing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders tend refuse to grant a loan on this type of house.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you e-mail us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Belbroughton. Conveyancing will be smoother if you use a solicitor in Belbroughton especially if they are accustomed to such properties in Belbroughton.
I own a leasehold flat in Belbroughton. Conveyancing and Aldermore mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1993. The conveyancing solicitor in Belbroughton who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Belbroughton conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a studio flat in Belbroughton, conveyancing having been completed 9 years ago. How much will my lease extension cost? Comparable properties in Belbroughton with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease comes to an end on 21st October 2077
With just 53 years left to run we estimate the price of your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.