Our Woburn Sands solicitor has uncovered a difference between the information in the valuation report and what is revealed within the title deeds. My solicitor has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance legitimate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My friend suggested that where I am buying in Woburn Sands I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Woburn Sands conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Woburn Sands around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Woburn Sands Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Woburn Sands.
Just had an offer accepted on a new build flat in Woburn Sands. 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.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Woburn Sands
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Woburn Sands is where the house is located. Is there any advice you can give?
Flying freeholds in Woburn Sands are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Woburn Sands you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woburn Sands 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.
Harry (my fiance) and I may need to sub-let our Woburn Sands 1st floor flat for a while due to taking a sabbatical. We used a Woburn Sands conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
The lease governs the relationship between the landlord and you the flat owner; specifically, it will say if subletting is not allowed, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Woburn Sands do not contain subletting altogether – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I bought a garden flat in Woburn Sands, conveyancing was carried out April 2007. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Woburn Sands with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ends on 21st October 2091
With 65 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
There are a lot of houses in Woburn Sands on private roads. My partner and I are purchasing such a property. Are there any benefits to buying a property on a privately owned road?
Woburn Sands conveyancing solicitors are used to conveyancing propertieson private. Your property lawyer should investigate Land Registry data to find any rights or responsibilities. It is possible that there is a management company (wholly owned by residents) that residents make annual payments for the upkeep of the road. If there is one, the road should be maintained and appear better than council owned.