I am purchasing a property without a mortgage in Carisbrooke. I have lived for the previous twelve years in Carisbrooke. Conveyancing searches are expensive. As I know the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a mortgage, then almost all of the Carisbrooke conveyancing searches are optional. Your lawyer will try and steer you, no-doubt strongly, that you should have searches carried out, but he has a professional duty to do this. One thing to bear in mind; if you are going to dispose of the house at a future date, it could be of relevance to your prospective buyer what the searches contain. On occasion premises with no practical issues can still show up negative search results. A good conveyancing solicitor in Carisbrooke will be able to give you some helpful guidance in this regard.
I have an AIP. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather appoint a Carisbrooke based conveyancing firm?
You should check but the chances are that allocate you one of their panel solicitors should you want the "fee-free" deal. Call the lender to ask if they allow a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Carisbrooke.
I used Arc property Solicitors several years ago for my conveyancing in Carisbrooke. Now, I need the documents but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Carisbrooke of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a flat up to £245,000 and identified one close by in Carisbrooke I like with open areas and station nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Carisbrooke in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years 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 existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
I have just appointed agents to market my garden flat in Carisbrooke. Conveyancing is yet to be initiated, but I have recently had a yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge the maintenance contribution as normal as all ground rent and service charges will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until 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 invested in buying a ground floor flat in Carisbrooke, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Carisbrooke with a long lease are worth £260,000. The ground rent is £50 invoiced annually. The lease expires on 21st October 2100
With 75 years unexpired the likely cost is going to be between £8,600 and £9,800 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
There are plenty of properties in Carisbrooke on private roads. My husband and I are purchasing such a house. What would be the pros and cons of purchasing a property on a private road?
Carisbrooke conveyancing practices will be well versed in conveyancing homeson unadopted roads. The conveyancer will investigate title to find any rights or liabilities. In many cases there is a management company (wholly owned by residents) that residents make annual payments to maintain the road. Where there is one, the road will likely be maintained and appear nicer than council adopted.