I am due to complete buying a house in Deeside but as a consequence of damage from the recent storms I have was able negotiate recompense from the seller of £3k in the form of a adjustment in the price. This was going to be dealt with as part of amending the contract but Aldermore are not allowing this. Why were they involved?
The solicitor that is on the Aldermore approved list is obliged to advise Aldermore of any variations to the purchase price. If you were to refuse your conveyancer to disclose the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancing practitioner for your conveyancing in Deeside.
My uncle passed away six months ago and as sole heir and executor I was left the house in Deeside. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Yorkshire BS will require that you use a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
Should commercial conveyancing searches disclose proposed roadworks that could affect a commercial property in Deeside?
Its becoming the norm that commercial conveyancing solicitors in Deeside will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Deeside. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Deeside.
For every commercial conveyancing transaction in Deeside it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Deeside commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Deeside.
Are there restrictive covenants that are commonly identified during conveyancing in Deeside?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Deeside. 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 leasehold apartment up to £245,000 and identified one round the corner in Deeside I like with amenity areas and station in the vicinity, however it's only got 49 years on the lease. There is not much else in Deeside in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage that many years may be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
What is the reason for my lawyer requiring various items of identification ahead of starting selling or purchasing a property in Deeside?
Deeside property lawyers are required by the Law Society, SRA, HM Land Registry and current Money Laundering Regulations to record that the have verified the identity of their clients. It is also sometimes a requirement of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, national insurance number and date of birth.