My wife and I are purchasing a newly constructed duplex in Castleton and Blacktown and my conveyancer is advising me that she has to the mortgage company to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
A colleague suggested that if I am buying in Castleton and Blacktown I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Castleton and Blacktown conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Castleton and Blacktown around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Castleton and Blacktown.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Castleton and Blacktown is the location of the property. Can you offer any advice?
Flying freeholds in Castleton and Blacktown are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Castleton and Blacktown you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Castleton and Blacktown may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In my capacity as executor for the estate of my aunt I am selling a house in Neath but live in Castleton and Blacktown. My conveyancer (approximately 200 miles awayneeds me to execute a statutory declaration ahead of completion. Could you suggest a conveyancing practitioner in Castleton and Blacktown who can attest and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are Castleton and Blacktown based
Last December I purchased a leasehold flat in Castleton and Blacktown. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a leasehold flat in Castleton and Blacktown, conveyancing formalities finalised in 2011. How much will my lease extension cost? Comparable properties in Castleton and Blacktown with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease expires on 21st October 2080
With only 56 years remaining on your lease the likely cost is going to be between £29,500 and £34,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
My friend mentioned that when choosing a conveyancing firm they must be approved by your bank. I am novice purchaser but I have an AIP via Birmingham Midhshires and I already have a high street conveyancing solicitor in Castleton and Blacktown on standby. Does Virgin Money need an approved conveyancer to be instructed? If so, where can I find that list for my conveyancing in Castleton and Blacktown?
You need to use a solicitor that is on the Virgin Money panel. Just call your preferred Castleton and Blacktown conveyancing lawyer to check if they are on the Virgin Money panel. If they are not on the panel you have a number of alternatives available to you here:
- Proceed with your existing Castleton and Blacktown property lawyer but Virgin Money will need to use a conveyancing practitioner on their approved panel. The net result is additional fees together with potential delay.
- Get a new conveyancer to act in the purchase, obviously checking they are on the Virgin Money conveyancing panel.
- Convince your conveyancing practitioner to seek to join the mortgage company panel.