My lawyer has uncovered a a legal deficiency with the lease for the apartment we are buying in Bottesford. The other side have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must check that the bank is happy with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. The appropriate lender specifications have to be complied with.
My friend recommended that where I am purchasing in Bottesford I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Bottesford conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Bottesford 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 House Prices, Crime details, Bottesford Education with plans and statistics, Local Amenities and other useful data regarding Bottesford.
I have todayfound out that Stirling Law have closed. They conducted my conveyancing in Bottesford for a purchase of a leasehold apartment 9 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bottesford conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build flat in Bottesford. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Bottesford
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Please confirm the Lease plans are architect prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants.
I am looking for a conveyancing solicitor in Bottesford for my remortgage. Is it possible to see a firm’s complaints history with the legal regulator?
You may review documented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA could monitor telephone calls for training purposes.
I’m about to sell my basement apartment in Bottesford. Conveyancing solicitors are to be appointed soon, however I have recently received a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would given that all rents and service charges will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a studio flat in Bottesford, conveyancing was carried out 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Bottesford with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2091
With 67 years unexpired we estimate the price of your lease extension to span between £10,500 and £12,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.