My partner and I are in the process of viewing houses in Turvey and I am now considering a potential offer. Is it best to have my solicitor on ‘stand by’? I am planning to take a home loan with Aldermore.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are obtaining a mortgage with Aldermore, make sure you remember to check that your lawyer is on the Aldermore conveyancing panel.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Turvey solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Turvey postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Turvey.
Aldermore have agreed my mortgage in principle, my offer on a apartment in Turvey has been accepted, now what?
Your estate agent will wish to know who your solicitors are (ensure that the lawyers are on the bank’s approved list). Contact Aldermore or your financial adviser and complete any relevant documentation. Aldermore will sellect a valuer who will get in contact with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Aldermore will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Turvey.
The deeds to my house are lost. The conveyancers who handled the conveyancing in Turvey 5 years ago no longer exist. What are my options?
As long as the title is registered the details of your ownership will be retained by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, identify your house and order up to date copies of the Registered Entries for a small fee. Where the title is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Turvey. Conveyancing is necessary evil 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 legal work.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Turvey
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I'm refinancing my existing home to a BTL loan with The Mortgage Works and intend to use the remaining equity as a down payment on further house. The location we are looking at is Turvey. Will your lawyers be able to act for both sets of banks and tie in the two deals?
Make use of our comparison tool on this page to be sure that the solicitors are approved by both lenders. Having checked that they are the conveyancer will be able to tie up the two deals but you should have a chat with you lawyer and make apparent your desired outcome and needs.
Planning to complete next month on a leasehold property in Turvey. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Turvey should include some of the following:
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if lease caters for for a sinking fund? You should be told what constitutes a Nuisance as far as the lease is concerned Responsibility for maintaining the window frames Where does the liability rest to repair and maintain the block. It is important that you know who is liable for the repair and maintenance of all parts of the block and estate It needs to be made clear to you if the lease permits you to add or improve anything in the premises- you should be made aware as to whether any restrictions relates to all alterations or limited to structural alteration, and whether licences for alterations is required
I inherited a 2 bed flat in Turvey, conveyancing formalities finalised in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Turvey with over 90 years remaining are worth £190,000. The ground rent is £65 levied per year. The lease finishes on 21st October 2082
With just 61 years left to run we estimate the premium for your lease extension to be between £18,100 and £20,800 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Developers have recommended to me a solicitor and I've sought a quote from them. They are nearly £400 less expensive than my preferred Turvey conveyancer. Should I use them?
Builders frequently have panels of property lawyers who expedite matters and who know the developer’s paperwork and property lawyer. As many developers offer an incentive to select their approved property lawyer for this reason, any increased charges can be avoided and a developer won't recommend a conveyancing warehouse and run the risk of having the conveyancing delayed when they need an exchange in 28 days. The argument for not opting for the recommended conveyancer is that they may prove hesitant to 'push' your interests at the risk of alienating the housebuilder. Where you have concerns that this may be the situation you should keep with your local Turvey lawyer.