I am considering applying for a HSBC mortgage for purchase of a new build (under development) in Denbigh with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
There is nothing to stop you using your solicitor, but HSBC will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Will commercial conveyancing searches reveal planned roadworks that may affect a commercial estate in Denbigh?
Many commercial conveyancing solicitors in Denbigh will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Denbigh. The report provides definitive data 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 Denbigh.
For every commercial conveyancing transaction in Denbigh 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 cause delays to Denbigh commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Denbigh.
Are there restrictive covenants that are commonly identified as part of conveyancing in Denbigh?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Denbigh. 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…’
I am purchasing my first flat in Denbigh benefiting from help to buy. The builders would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not reveal to my conveyancer about this extras as it may jeopardize my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to instruct a conveyancing solicitor in Denbigh for my home move. Is it possible to review a solicitor's record with the profession’s regulator?
Anyone may read documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.
I only have Fifty years unexpired on my lease in Denbigh. I now want to extend my lease but my freeholder is absent. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to locate the landlord. In some cases an enquiry agent may be useful to try and locate and prepare a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the application to the County Court overseeing Denbigh.
I purchased a leasehold flat in Denbigh, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Denbigh with over 90 years remaining are worth £165,000. The ground rent is £50 invoiced every year. The lease terminates on 21st October 2099
You have 78 years remaining on your lease the likely cost is going to range between £7,600 and £8,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.