As someone with no idea as to conveyancing in Undy what’s your top tip you can impart concerning the legal transfer of property in Undy
You may not hear this from too many lawyers but conveyancing in Undy or throughout Monmouthshire is often a confrontational experience. In other words, when it comes to conveyancing there is an abundance of room for confrontation between you and others involved in the legal transfer of property. For example, the seller, property agent and on occasion a mortgage company. Appointing a lawyer for your conveyancing in Undy an important selection as your conveyancer is your adviser, and is the SOLE party in the legal process whose interest is to protect your legal interests and to protect you.
We are witnessing a distinct emergence of a "blame" culture- someone has to be blamed for the process taking so long. We recommend that you should always trust your lawyer ahead of the other players in the home moving process.
My friend suggested that if I am buying in Undy 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 sometimes included in the estimate for your Undy conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Undy around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Undy.
Are there restrictive covenants that are commonly identified as part of conveyancing in Undy?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Undy. 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 purchasing a new build house in Undy benefiting from help to buy. The sellers refused to reduce the price so I negotiated 6k of extras instead. The sale representative advised me not reveal to my conveyancer about this deal as it will put at risk my loan with the lender. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Undy is the location of the property. Is there any guidance you can give?
Flying freeholds in Undy are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Undy you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Undy 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 property.
Last November I purchased a leasehold property in Undy. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure 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 purchased a basement flat in Undy, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Undy with an extended lease are worth £206,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2090
With just 66 years left to run the likely cost is going to be between £11,400 and £13,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.