AssumingI were to buy a simple residential propertyin Berkshire for cash and dispense with a survey and no local authority searches how much would I expect to have to pay for conveyancing in Berkshire?
The sole saving you would make on is the disbursement for searches. Your property lawyer is obliged to do the vast majority of work - money laundering, communicating with the vendors property lawyer, stamp duty submission, register the ownership etc. A slight saving might be made by not needing to register a mortgage but it will not be meaningful.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Berkshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Berkshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Berkshire with a mortgage from Barclays . The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not inform my solicitor about the side-deal as it may affect my loan with the bank. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a simple, chain free conveyancing. Berkshire is where the house is located. Is there any advice you can impart?
Flying freeholds in Berkshire are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Berkshire you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Berkshire 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 residence.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £350,000 garden flat in Berkshire in just under a week. The landlords agents has quoted £336 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Berkshire?
Berkshire conveyancing on leasehold apartments often necessitates the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions the majority will be content to do so. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is in excess of £800. The management information fee required by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to sell the property.
I am the registered owner of a 1st floor flat in Berkshire, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable flats in Berkshire with over 90 years remaining are worth £186,000. The ground rent is £55 yearly. The lease comes to an end on 21st October 2070
With just 52 years remaining on your lease we estimate the price of your lease extension to be between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.