My friend recommended that where I am buying in Bath I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Bath conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Bath around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Bath.
I am buying a new build flat in Bath. 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 conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Bath
-
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Forfeiture - bankruptcy or liquidation must not apply under this provision.
There must be mutual enforceability of lessee’s covenants.
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
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.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Bath is the location of the property. Is there any guidance you can give?
Flying freeholds in Bath are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bath you must be sure that your lawyer goes 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 Bath may decide 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 property.
I invested in buying a garden flat in Bath, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Bath with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 50
You have 50 years remaining on your lease we estimate the price of your lease extension to span between £36,100 and £41,800 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.
Is it true that a Bath conveyancing firm taken to court by clients for not carrying out comprehensive conveyancing searches?
We are not aware of such a Bath conveyancing claim but according to a recent report, a couple buying a house in Cumbria successfully won a claim against their due to development plans to construct a wind farm failing to be picked up in conveyancing searches.
If you are purchasing in Bath It is essential that your conduct all Bath conveyancing searches required to ensure you have relevant and up to date information ahead of acquiring a property.