We are buying a house in Lyddington. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
A friend pointed out to me me that in buying a property in Lyddington there may be various restrictions as to what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Lyddington which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Lyddington should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have a mortgage with Kent Reliance for my property in Lyddington. Conveyancing has been completed 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
You must advise Kent Reliance in advance of letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel solicitor.
My friend suggested that where I am purchasing in Lyddington I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Lyddington conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Lyddington around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lyddington Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Lyddington Education with maps and statistics, Local Amenities and other useful data about Lyddington.
How does conveyancing in Lyddington differ for new build properties?
Most buyers of new build premises in Lyddington contact us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because developers in Lyddington usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lyddington or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Lyddington ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend refuse to give a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you e-mail us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lyddington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lyddington to see if the conveyancing costs will increase in light of this.
Expecting to sign contracts shortly on a ground floor flat in Lyddington. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Lyddington should include some of the following:
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You should be sent a copy of the lease Defining your legal entitlements in relation to common areas in the building.By way of example, does the lease permit a right of way over an accessway or hallways? Where does the liability rest for maintaining the window frames Whether the lease restricts you from subletting the flat, or having a home office for business Does the lease require carpeting throughout thus preventing wood flooring?
I own a garden flat in Lyddington, conveyancing formalities finalised in 2000. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Lyddington with a long lease are worth £179,000. The ground rent is £65 per annum. The lease ceases on 21st October 2081
With only 57 years remaining on your lease we estimate the price of your lease extension to span between £26,600 and £30,800 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 cannot give you the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
What can I do to discover who is the owner of a house in Lyddington?
Provided the property is recorded at HM Land Registry, and you have sufficient specifics of the location of the property, you should be able to obtain details from the HM Land Registry of the registered proprietor for a for less than a fiver.