We are due to complete buying a property in Ely but as a consequence of damage from some water damage at the property I have was able negotiate recompense from the owner in the sum of six thousand pounds taking the form of a deduction in the price. This was going to be addressed as part of the conveyancing process yet TSB will not agree to this. Should they have been informed?
Any conveyancer that is on the TSB approved list is required to advise TSB of any changes to the sale price. If you prohibit your lawyer to disclose the reduction to TSB then they would have to discontinue acting for you. In addition, TSB and you would have to appoint a new conveyancing practitioner for your conveyancing in Ely.
What will a local search reveal regarding the property we're purchasing in Ely?
Ely conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Searchflow The local search is essential in every Ely conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Ely is the location of the property. Can you offer any assistance?
Flying freeholds in Ely are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ely you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ely may decide 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 property.
Is it best to choose a Ely conveyancing solicitor based in the location that I am hoping to buy? An old friend can handle the legal work however they are based 400miles drive away.
The benefit of a local Ely conveyancing firm is that you can attend the office to execute documents, present your identification documents and pester them if necessary. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were impressed that must trump using an unfamiliar Ely conveyancing lawyer solely due to them being Ely based.
My fiance and I may need to sub-let our Ely 1st floor flat for a while due to a career opportunity. We instructed a Ely conveyancing practice in 2003 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in Ely do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I own a 1st floor flat in Ely, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Ely with over 90 years remaining are worth £186,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2076
With just 52 years left to run the likely cost is going to span 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 are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
Do I stop the direct debit for my mortgage with Yorkshire BS as soon as a completion date for my sale in Ely has been set?
No, you should keep meeting any mortgage sums to Yorkshire BS pending the mortgage being redeemed out of the proceeds of sale as part of your Ely conveyancing.