AssumingI were to acquire a simple residential housein Aldermanbury for cash and dispense with a survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Aldermanbury?
Any savings you would achieve would be limited to the costs for searches. Your solicitor is obliged to do the vast majority of work - money laundering, communicating with the sellers property lawyer, SDLT return, register the property etc. You might save a bit for them not needing to register a charge however it will not be significant.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Aldermanbury?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Aldermanbury. 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 am buying a new build house in Aldermanbury with a mortgage from Godiva Mortgages Ltd. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about this side-deal as it will adversely affect my loan with the bank. 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 element on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Aldermanbury is where the house is located. What do you suggest?
Flying freeholds in Aldermanbury are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aldermanbury you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aldermanbury 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 premises.
My husband and I are novice buyers - agreed a price, yet the property agent told us that the owners will only issue a contract if we use their recommended conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Aldermanbury
We suspect that the owner is not behind this demand. If they want ‘a quick sale', alienating a serious purchaser is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make the point that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you are going to appoint your preferred Aldermanbury conveyancing solicitors - as opposed tothe ones that will give the negotiator at the agency a introducer fee or hit his conveyancing thresholds demanded by head office.
I am on look out for some leasehold conveyancing in Aldermanbury. Before diving in I would like to find out the remaining lease term.
Assuming the lease is recorded at the land registry - and almost all are in Aldermanbury - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the leaseholder of a basement flat in Aldermanbury. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price payable.
An example of a Lease Extension case for a Aldermanbury residence is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The unexpired lease term was 72.39 years.