Are there restrictive covenants that are commonly identified as part of conveyancing in Broughton Astley?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Broughton Astley. 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…’
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Broughton Astley I like with a park and station in the vicinity, however it only has 61 years unexpired on the lease. There is not much else in Broughton Astley for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage that many years will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I'm refinancing my current house to a buy to let loan with Barnsley Building Society and I will use the rest of the raised equity as a deposit on another property. The location we are looking at is Broughton Astley. Will your lawyers be able to act for both sets of mortgage companies and tie in the two deals?
Make use of our comparison tool on this page to check that the conveyancers are on the relevant lender panels. Assuming that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and communicate your desired outcome and needs.
We're first time buyers - had an offer accepted, but the selling agent told us that the owners will only move forward if we use their preferred conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer who is familiar with conveyancing in Broughton Astley
It is highly unlikely the vendors are driving this. Should the seller desire ‘a quick sale', taking such a hostile approach to a genuine buyer is going to damage their objectives. Avoid the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your own,trusted Broughton Astley conveyancing solicitors - rather thanthose that will earn their estate agent a referral fee or hit his conveyancing targets demanded by corporate headquarters.
What advice can you give us when it comes to finding a Broughton Astley conveyancing practice to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Broughton Astley conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you make enquires with several firms including non Broughton Astley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
How familiar is the firm with lease extension legislation? Can they put you in touch with clients in Broughton Astley who can give a testimonial?
Broughton Astley Leasehold Conveyancing - A selection of Queries before buying
The prefered form of lease arrangement is a share of the freehold. In this situation the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. In the main the outlay for major works tend not to be incorporated into the maintenance charges, although a few managing agents in Broughton Astley require leaseholders to contribute towards a reserve fund and this is used to offset against larger works. How is the lease structured?
My partner and I are purchasing a 2 bedroom flat in Broughton Astley. At the time of instructing our solicitor, they assured us that they were on all mainstream bank panels. Our financial adviser called yesterday to say that they are not on the Nationwide approved list. Should that be true, what should we do? Should we just pick a new lawyer that is on their panel or do we cover the costs for dual representation, with Nationwide appointing their own approved conveyancer.
When purchasing a property with mortgage finance it is normal for the purchaser’s solicitors to also act for the mortgage company. In order to act for a bank or building society a lawyer has to be on that lender's conveyancing panel. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to satisfy. Some mortgage companies now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact Nationwide and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Nationwide's conveyancing panel as you are at liberty to use your preferred Broughton Astley lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.