I am buying a newly built apartment in Caerwys and my conveyancer is advising me that she has to the bank to disclose incentives from the builder. I am under pressure to exchange contracts and my preference is not to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Caerwys?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Caerwys. 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…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Caerwys. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Caerwys
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.
Due to the input of my in-laws I had a survey completed on a house in Caerwys prior to appointing solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies may refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Caerwys. Conveyancing may be slightly more expensive based on your lender's requirements.
How do I search for a Caerwys law firm on the Yorkshire Building Society conveyancing panel? I have wheels and am happy to travel upto 25kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please pick a lender and your location and you will see a number of Caerwys conveyancing lawyers located nearest you. We have detailed some Caerwys conveyancing firms towards the end of this page and you can ring them to check if they are on the Yorkshire Building Society member panel
All being well we will complete the sale of our £250,000 apartment in Caerwys in just under a week. The management company has quoted £420 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Caerwys?
Caerwys conveyancing on leasehold maisonettes normally requires the buyer’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be willing to assist. They are entitled to invoice a reasonable charge for answering questions or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge levied by the landlord must be sent together with a summary of rights and obligations in respect of administration charges, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Caerwys Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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Who manages the building? How is the lease structured? Best to be warned if window replacement or some other significant cost is due shortly that will be shared by the leaseholders and will dramatically increase the the service costs or result in a one time invoice.