My husband and I are buying a new build apartment in Bridgwater and my conveyancer is advising me that she is duty bound to the lender to disclose incentives from the builder. I am on a tight deadline to sign contracts and I would rather not prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a reason why leasehold purchase conveyancing in Bridgwater costs more?
Bridgwater leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My wife and I own a semi-detached Georgian house in Bridgwater. Conveyancing practitioner acted for me and Britannia. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bridgwater and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing lawyer who completed the work.
I am looking into buying my first house which is in Bridgwater and I am already nervous. I couldn't find anything specific about Bridgwater. Conveyancing will be needed in due course but do you know about the Bridgwater area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bridgwater. In the meantime here are some basic statistics that we found
Can you offer any advice when it comes to choosing a Bridgwater conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Bridgwater conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Bridgwater conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
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What are the costs for lease extension conveyancing? If the firm is not ALEP accredited then why not?
I invested in buying a leasehold flat in Bridgwater, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Bridgwater with an extended lease are worth £186,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2077
With 52 years left to run the likely cost is going to be between £29,500 and £34,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
Should I be worried if there is a problem with one of the searches for my conveyancing in Bridgwater?
Ordinarily, most concerns arising from Bridgwater conveyancing search results can be dealt with before completion or title insurance can be put in place. It is crucial to note that even though you intend on buying the premises and may be willing to accept the search results, your mortgage lender may not, and when all said and done have the final decision.