We are selling our house in Badminton and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any high street Badminton lawyer would know this is not the case. It does beg the question why the purchasers instructed an online conveyancing practice as opposed to a conveyancing solicitor in Badminton. We have lived in Badminton for six years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
4 months have elapsed since my purchase conveyancing in Badminton concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Badminton with the aid of help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not disclose to my solicitor about this side-deal as it may put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In sourcing the web for the term conveyancing in Badminton it reveals numerous conveyancersin the vicinity. With so much choice what is the best way to find the right solicitor for my move?
The preferential method of seeking a suitable conveyancer is through a trusted recommendation, so seek the opinion of colleagues and those you trust who have bought a property in Badminton or a respected estate agent or financial adviser. Fees for conveyancing in Badminton vary, so it's a good idea to request a minimum of three fee calculations from varying types of property lawyers. Dont forget to clarify that the charges are assured not to escalate.
What makes a Badminton lease unacceptable for security purposes?
Leasehold conveyancing in Badminton is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
A duty to insure the building A provision to repair to or maintain elements of the property
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Leeds Building Society, and Britannia all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.
I bought a studio flat in Badminton, conveyancing formalities finalised March 2000. How much will my lease extension cost? Comparable properties in Badminton with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2073
You have 50 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.