I am about to exchange buying a house in Melbourn but as a result of damage from a small fire at the property I have managed to agree compensation from the seller in the sum of £2k taking the form of a adjustment in the price. This was going to be addressed as part of a side agreement however Santander are not allowing this. Why were they notified?
Your property lawyer being on the Santander approved list is duty bound to disclose to Santander of any amendments to the purchase price. If you prohibit your conveyancer to disclose the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in Melbourn.
I need some fast conveyancing in Melbourn as I am under an ultimatum to sign on the dotted line in less than one month. Fortunately I do not need a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are not getting a home loan you have the choice not to have searches conducted although no lawyer would suggest that you don't. Drawing on our experience of conveyancing in Melbourn the following are instances of issues that can show up and adversely impact market value: Enforcement Notices, Overdue Fees, Outstanding Grants, Unadopted Roads,...
Are there restrictive covenants that are commonly picked up during conveyancing in Melbourn?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Melbourn. 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 have been on the look out for a flat up to £245,000 and identified one close by in Melbourn I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Melbourn for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I am hoping to complete next month on a basement flat in Melbourn. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Melbourn should include some of the following:
Whether your lease has a provision for a sinking fund? 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. Details of the parties to the lease, for instance these could be the lessee, head lessor, landlord You must be advised what is to be regarded as a Nuisance in the lease You should know if the lease allows you to change or improve anything in the property- you must know whether it relates to all alterations or limited to structural alteration, and whether permission is required
I acquired a garden flat in Melbourn, conveyancing was carried out half a dozen 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? Comparable flats in Melbourn with an extended lease are worth £227,000. The ground rent is £50 per annum. The lease expires on 21st October 2095
With 72 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
The figure 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 investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
Me and my husband have just had an offer agreed on a house and had meeting on Wednesday with HSBC for the mortgage. They advised us that when it comes to appointing a solicitor that unless they are on their approved panel of solicitors then we will incur a further charge of £200. This is is due to the fact that they will then have to instruct a conveyancer to act for them in addition to the one we appoint for ourselves and we will be on the hook for their fees. I have asked HSBC to supply me with a list so I can request estimates only from their approved lawyers but was told they dont have such a list to hand over. What would be the best way of going about this?
You can enquire of HSBC what their criteria for joining their panel is for a conveyancer.Then ask the solicitor of your choice whether they meet the criteria and have they acted on mortgages for HSBC historically. If the answer to those is yes, then just double check with HSBC. Another option is to use our search tool and we should be able to find you a conveyancing practitioner in Melbourn on the approved list for HSBC.