I require conveyancing for a flat in a relatively new development (seven years built) in Narborough. The vast majority the properties are already sold. Do I need carry out the neighbourhood searches as part of conveyancing in Narborough?
You would be taking a significant risk in not carrying out Narborough conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that you have them. Where accelerating the process and driving down costs are primary issues you should discuss with your conveyancer about the options such as lack of search insurance available to you
When scouring mumsnet.com for a high-quality solicitor in Narborough, many advise that I must use a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in the legal transfer of properties, trusted by some of the UK's leading mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Council of Licensed Conveyancing. Narborough is one of the numerous areas of the UK where there are Accredited solicitors.
We are selling our house in Narborough and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the purchasers are using a national conveyancing practice rather than a conveyancing solicitor in Narborough. Having lived in Narborough for 5 years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I'm buying my first flat in Narborough with a mortgage from Skipton Building Society. The sellers refused to move on the amount so I negotiated 6k of extras instead. The sale representative advised me not to tell my conveyancer about the deal as it would put at risk my loan with the lender. Should I keep quiet?.
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 should have been a quick, chain free conveyancing. Narborough is the location of the property. Is there any guidance you can give?
Flying freeholds in Narborough are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Narborough you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Narborough may decide 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.
What advice can you give us when it comes to choosing a Narborough conveyancing practice to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Narborough conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Narborough conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
How many lease extensions have they carried out in Narborough in the last year? Can they put you in touch with clients in Narborough who can give a testimonial?
I am the registered owner of a leasehold flat in Narborough, conveyancing was carried out 6 years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Narborough with a long lease are worth £176,000. The ground rent is £50 per annum. The lease expires on 21st October 2101
With only 80 years unexpired the likely cost is going to span between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.