I am getting a offer of a home loan from Nat West. I hope to enlist the help of a Licensed Conveyancer in Freshwater. Does the Nat West Conveyancing panel include conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Me and my fiancee are purchasing our first property. Our solicitor has messagedto see if we would like to take out supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Freshwater
The type of Freshwater conveyancing searches should be triggered based entirely on the property, the location, the probability of any of these risks, your familiarity of the area and risks, your overall appetite to risk. What is important is that you properly comprehend what information the searches could provide. Then you can decide if you personally think you need that information. If unsure, ask your solicitor to provide guidance.
When it comes to lenders such as RBS, do Freshwater solicitors have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
We have agreed to purchase a house in Freshwater. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that you are obtaining a mortgage with Coventry BS your lawyer must comply with the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook contains minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Coventry BS where a lease does not comply with these specifications. The specifications relate to the installation of panels on properties nationwide and is not restricted to Freshwater.
We expect to receive a AIP from RBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Freshwater solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Freshwater solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
Are there restrictive covenants that are commonly identified during conveyancing in Freshwater?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Freshwater. 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…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Freshwater. 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 conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Freshwater
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There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. 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. Please confirm the Lease plans are architect prepared.
Planning to complete next month on a basement flat in Freshwater. Conveyancing lawyers have said that they report fully on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Freshwater should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. You should have a good understanding of the building insurance requirements Are pets allowed in the flat? Do you need to have carpet in the flat or are you allowed wood flooring?
I bought a 1st floor flat in Freshwater, conveyancing having been completed 4 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Freshwater with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease ceases on 21st October 2096
With just 71 years left to run the likely cost is going to range between £9,500 and £11,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.