We have agreed to purchase a house in Kingstanding. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Aldermore be concerned?
Given that you are obtaining a mortgage with Aldermore your lawyer must follow the conveyancing instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Aldermore. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Aldermore where a lease does not meet these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not isolated to Kingstanding.
I am currently in the process of buying my council flat in Kingstanding. I have a mortgage agreed with Kent Reliance. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Virgin Money. Is it usual for Virgin Money to only issue the offer once my solicitor in Kingstanding is approved on their conveyancing panel? Virgin Money have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Virgin Money to deal with your lawyer's application to be on the Virgin Money conveyancing panel. There's no guarantee that your solicitor will be accepted.
We are purchasing a house and the conveyancer has raised the issue of Chancel Repair for which the property may be liable as it falls into the area of such a church. She has mentioned insurance. Is this really necessary for conveyancing in Kingstanding
Unless a previous acquisition of the premises took place post 12 October 2013 you can expect solicitors delivering conveyancing in Kingstanding to continue to advocate a chancel search and or insurance against a claim.
I am purchasing a new build house in Kingstanding with the aid of help to buy. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not reveal to my conveyancer about the extras as it may affect my mortgage with Alliance & Leicester . 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Kingstanding is the location of the property. Is there any advice you can give?
Flying freeholds in Kingstanding are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kingstanding you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kingstanding may ascertain 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 premises.
How can the Landlord & Tenant Act 1954 affect my commercial offices in Kingstanding and how can you help?
The 1954 Act provides security of tenure to business tenants, granting the right to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Kingstanding is one of our hundreds of locations in which our lawyers are based
Are there common problems that you come across in leases for Kingstanding properties?
Leasehold conveyancing in Kingstanding is not unique. All leases are individual and legal mistakes in the legal wording can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
A provision for the recovery of money spent for the benefit of another party.
You will encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Coventry Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
I own a 2 bed flat in Kingstanding, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Kingstanding with over 90 years remaining are worth £197,000. The ground rent is £55 per annum. The lease runs out on 21st October 2077
With only 56 years remaining on your lease we estimate the price of your lease extension to range between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.