My wife and I are purchasing a new build duplex in Crowland and my solicitor is advising me that she is duty bound to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company 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.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Crowland?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Crowland. 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…’
About to purchase a new build apartment in Crowland. Conveyancing is necessary evil 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 legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Crowland
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
What tools are available to identify a Crowland law firm on the Britannia conveyancing panel? I have a car and am happy to travel upto 20kilometers to meet the solicitor.
Feel free to make use of the search on this website. Please select a bank and your location and you will see a number of Crowland conveyancing lawyers based on proximity. We have detailed some Crowland conveyancing firms towards the end of this page and you can ring them to verify whether they are on the Britannia member panel
My uncle has recommend that I instruct his conveyancers in Crowland. Do I take his guidance?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to get feedback from friends or family who have actually experience in using the solicitor you're considering.
I am attracted to a two maisonettes in Crowland both have about fifty years remaining on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in Crowland is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the value of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Crowland conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Crowland Leasehold Conveyancing - Examples of Queries before buying
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Best to be warned whether changing the roof or some other significant cost is pending that will be shared between the tenants and may well materially impact the level of the service fees or require a specific invoice. It would be sensible to enquire if there is anything that is prohibited in the lease. For instance it is fairly common in Crowland leases that pets are not permitted in in a block in Crowland. If you love the apartmentin Crowland yet your dog can’t move with you then you have a very difficult decision. This information is helpful as a) areas can result in problems in the building as the communal areas may start to deteriorate if repairs are not paid for b) if the leaseholders have a dispute with the managing agents you will wish to know about it