My lawyer has informed me that restrictive coveneant insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Thames View?
The right level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between Accord Mortgages Ltd and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
Two weeks ago we had a mortgage agreed in principle with HSBC. Thames View conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from HSBC?
Some lenders take longer than others. Have HSBC conducted the survey? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We were going to get a AIP from Clydesdale this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Clydesdale recommend any Thames View solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Thames View solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
What can a local search inform me regarding the property I am purchasing in Thames View?
Thames View conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for instance Xpress Legal The local search is essential in every Thames View conveyancing purchase; as long as you don’t want any nasty surprises after you move into your property. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
The estate agent has sent us the confirmation of our purchase of a new build flat in Thames View. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Thames View
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one close by in Thames View I like with open areas and station nearby, the downside is that it only has 61 years on the lease. There is not much else in Thames View suitable, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan that many years will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
My father has encouraged me to instruct his conveyancers in Thames View. Should I choose my own property lawyer?
No doubt the ideal way to select a conveyancing practitioner is to seek feedback from friends or relatives who have used the solicitor you're contemplating using.
I have just started marketing my basement apartment in Thames View. Conveyancing is yet to be initiated, but I have recently had a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as usual as all rents and service invoices will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the proprietor of a two-bedroom flat in Thames View. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to decide the premium.
An example of a Lease Extension case for a Thames View residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The unexpired lease term was 61.36 years.