My colleague advised me that where I am purchasing in Poundbury I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Poundbury conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Poundbury around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Poundbury Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Poundbury Education with plans and statistics, Local Amenities and other useful data regarding Poundbury.
I am buying a new build house in Poundbury benefiting from help to buy. The developers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not to tell my solicitor about this side-deal as it could jeopardize my mortgage with Norwich and Peterborough Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Poundbury is the location of the property. What do you suggest?
Flying freeholds in Poundbury are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Poundbury you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Poundbury 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.
What is different about your site and alternative internet conveyancing brokers for conveyancing in Poundbury?
At this site receive an accurate costs illustration via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Poundbury. Unlike many estate agents and brokerage sites we do not have kick-back arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the highest kickback, not the best value conveyancing in Poundbury
Having checked my lease I have discovered that there are only 62 years left on my lease in Poundbury. I am keen to extend my lease but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to track down the freeholder. In some cases an enquiry agent should be useful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Poundbury.
I purchased a leasehold flat in Poundbury, conveyancing formalities finalised April 2005. How much will my lease extension cost? Corresponding properties in Poundbury with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2099
You have 76 years left to run the likely cost is going to range 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 cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
Me and my partner are purchasing a three room maisonettein Poundbury with a residential mortgage from a lender. We would like to retain our solicitor in Poundbury yet our lender advise he's not on their "panel". Apparently we need to choose one of the our bank panel solicitors or keep our Poundbury solicitor and incur the extra legals for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that our mortgage company use our Poundbury lawyer?
No, not really. The mortgage company mortgage offered to you is subject to its terms and conditions, one of which will be that solicitors will on the bank's conveyancing panel. in the past, most banks had large numbers of law firms on their panels, including almost all conveyancing solicitors in Poundbury : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your lender.