In the event thatI was to buy a simple residential propertyin Woodbury for cash and dispense with a survey and no conveyancing searches how much should I expect to to save on my conveyancing in Woodbury?
Any savings you would achieve would be limited to the costs for searches. Your conveyancer is obliged to do the vast majority of work - money laundering, liaising with the vendors conveyancing practitioner, stamp duty submission, register the property etc. A marginal saving might be made by not having to register a mortgage however it won't be meaningful.
It is is a decade since I acquired my house in Woodbury. Conveyancing solicitors have now been retained on the sale but I can't find the deeds. Is this a problem?
You need not be too concerned. Firstly there is a possibility that the deeds will be retained by your mortgage company or they may still be with the solicitor who acted in the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Nearly all conveyancing in Woodbury relates to registered property but in the unlikely event that your home is not registered it is more of a problem but is resolvable.
Are the BSA intent on creating a search tool with a view to to identify law firms on the Melton Mowbray Building Society conveyancing panel for example in Woodbury?
Lexsure has not been advised of any plans on the part of the BSA to develop such a register.
Should my conveyancer be raising questions about flooding during the conveyancing in Woodbury.
Flooding is a growing risk for solicitors dealing with homes in Woodbury. There are those who buy a property in Woodbury, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a number of searches that can be initiated by the buyer or by their lawyers which will figure out the risks in Woodbury. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the owner to find out if the premises has ever been flooded. In the event that flooding has previously occurred and is not disclosed by the seller, then a purchaser may commence a claim for damages as a result of such an inaccurate response. A purchaser’s conveyancers should also order an environmental search. This will indicate if there is a recorded flood risk. If so, further investigations should be carried out.
I have justfound out that Wolstenholmes have closed. They carried out my conveyancing in Woodbury for a purchase of a leasehold flat 12 months ago. How can I be sure that the property is registered correctly in the name of the previous owner?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Woodbury conveyancing specialists.
Frank (my husband) and I may need to sub-let our Woodbury garden flat for a while due to taking a sabbatical. We used a Woodbury conveyancing firm in 2002 but they have since shut and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A small minority of properties in Woodbury do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I own a garden flat in Woodbury, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Woodbury with a long lease are worth £260,000. The ground rent is £50 invoiced every year. The lease ceases on 21st October 2100
You have 75 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.