We're in Killay, FTBs purchasing with a mortgage (lender is HSBC , and our solicitor is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
A relative advised me that if I am purchasing in Killay I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Killay conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Killay around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Killay.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Killay?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Killay. 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've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Killay is where the house is located. Is there any advice you can impart?
Flying freeholds in Killay are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Killay you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Killay may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Having had my offer accepted I require leasehold conveyancing in Killay. Before diving in I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Killay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a 1st floor flat in Killay, conveyancing having been completed December 2006. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Killay with a long lease are worth £181,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2077
With only 51 years remaining on your lease the likely cost is going to span between £30,400 and £35,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
My wife and I have recently appointed a conveyancing solicitor in Killay. I need to find out if they are listed on the bank's approved list of lawyers. Could you advise?
It’s a good idea phone your conveyancer to enquire if they are on the lender's panel. Alternatively please call us and we can make some checks for you. Should the firm not be on the lender panel we we can help find a reputable conveyancing solicitor in Killay on the panel for your mortgage company.