I am buying a newly built apartment in Colyers and my conveyancer is informing me that she is duty bound to the lender to disclose incentives from the seller. I am on a tight deadline to sign contracts and I have no desire to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I purchased a freehold residence in Colyers but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Colyers and has limited impact for conveyancing in Colyers but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
My stepmother informed me that in buying a property in Colyers there could be various restrictions prohibiting external changes to the property. Is this right?
We are aware of a number of properties in Colyers which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Colyers should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is there a list of Skipton panel conveyancers in Colyers on the Building Society Association’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings open the public over the internet. If you are seeking to appoint a Colyers lawyer on the Skipton please make the most of our facility.
My wife and I have arranged a further advance on our mortgage from Co-operative as we wish to carry out alterations to our house in Colyers. Do we need to choose a local Colyers solicitor on the Co-operative conveyancing panel to handle the paperwork?
Co-operative would not normally appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative panel.
I am buying a new build apartment in Colyers. 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.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Colyers
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Colyers I like with a park and railway links in the vicinity, however it's only got 51 years on the lease. There is not much else in Colyers suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the shortness of the lease may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
I am looking for a conveyancing practitioner in Colyers for my house move. Is it possible to check a solicitor's record with the legal regulator?
One can search for documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator may recorded call for training requirements.