I am assisting my mother sell her house in East Cowes. Will the conveyancing solicitor order an energy performance certificate or it is for me to coordinate?
Following the abolition of Home Packs, EPC’s was left as a required element of selling a house. An energy performance certificate should be commissioned prior to the property being marketed. This is not as aspect of the sale process that conveyancers normally arrange. If you are instructing a East Cowes conveyancing lawyer they may help arrange energy assessments due to their relationships with long established East Cowes assessors
It is unclear whether my lender requires a lease extension. I have called into my local East Cowes bank branch on various occasions and was told it wasn't an issue and they would lend. My East Cowes conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. I simply don't know who is right.
Provided that the conveyancing practitioner is on the lender panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my flat. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Clydesdale are being problematic. The East Cowes solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My partner and I are intent on selling our house in East Cowes and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street East Cowes lawyer would know this is not the case. For the life of me I don't know why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in East Cowes. We have lived in East Cowes for many years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing solicitor currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
About to purchase a new build flat in East Cowes. Conveyancing is daunting 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 is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in East Cowes
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. 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? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I have been on the look out for a ground for flat up to £305k and identified one round the corner in East Cowes I like with open areas and station nearby, the downside is that it only has 51 years unexpired on the lease. There is not much else in East Cowes for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will 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 property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
How do I locate a East Cowes solicitor on the Leeds Building Society conveyancing panel? I am a keen cyclist and am willing to travel upto 10kilometers to meet the lawyer.
You can use the search on this website. Please select a bank and your location and you will see a number of East Cowes conveyancing lawyers based on proximity. We have listed some East Cowes conveyancing firms towards the end of this page and you can call them to verify whether they are on the Leeds Building Society approved list
If all goes to plan we aim to complete our sale of a £225,000 garden flat in East Cowes next week. The landlords agents has quoted £336 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in East Cowes?
East Cowes conveyancing on leasehold flats nine out of ten times involves administration charges raised by landlords agents :
Completing pre-exchange enquiries
Where consent is required before sale in East Cowes
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I purchased a leasehold flat in East Cowes, conveyancing having been completed May 2008. Can you work out an approximate cost of a lease extension? Similar flats in East Cowes with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease runs out on 21st October 2082
With 59 years left to run the likely cost is going to span between £20,900 and £24,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.