My wife and I are about to complete buying a property in Bewdley but as a result of wreckage from a small fire at the property I have was able negotiate recompense from the current proprietors of £2k taking the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process yet Leeds Building Society will not agree to this. Should they have been involved?
Your lawyer that is on a Leeds Building Society conveyancing panel is duty bound to inform Leeds Building Society of any variations to the purchase price. If you prohibit your conveyancing practitioner to report the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new property lawyer for your conveyancing in Bewdley.
Having sold my house in Bewdley last November but our buyer keeps SMS messaging every few hours to say their conveyancer is waiting to hear from mine. What should have happened now that I have sold?
Following your disposal your conveyancer should deliver the transfer deeds and all of the paperwork to the buyer’s conveyancer. Where appropriate, your conveyancer must also evidence that the home loan has been discharged to the buyers conveyancers. There is unlikely to be post completion formalities specific conveyancing in Bewdley.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Bewdley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bewdley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bewdley you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bewdley 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.
Hoping to buy a property located in Bewdley and I am already nervous. I couldn't find anything specific about Bewdley. Conveyancing will be needed in due course but do you know about the Bewdley area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bewdley. In the meantime here are some basic statistics that we found
In relation to leasehold conveyancing in Bewdley what are the most frequent lease problems?
Leasehold conveyancing in Bewdley is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
A duty to insure the building Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
I am the registered owner of a 1st floor flat in Bewdley, conveyancing having been completed 8 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Bewdley with an extended lease are worth £186,000. The ground rent is £55 invoiced every year. The lease expires on 21st October 2071
With only 52 years remaining on your lease the likely cost is going to be between £29,500 and £34,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. 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 taken into account and you obviously 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.