I was informed recently by my broker that my Broad Haven the law firm I have appointed is not on the lender Solicitor panel. What can I do to be certain that this is indeed the case?
You need to call your Broad Haven lawyer directly. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a Broad Haven conveyancing practice that is on the approved list of lawyers for your bank.
My god-son is buying a house that has just been built in Broad Haven with a home loan from Clydesdale. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Forgive me if this question is silly but I am new to the home buying as a first time buyer of a ground floor flat in Broad Haven. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Broad Haven?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be invited to receive the keys from the selling Agents and move into your new home. Usually this happens early afternoon.
My wife and I buying a victorian detached house in Broad Haven. The intention is to convert the garage to a playroom at the house.Will legal investigations on the property include investigations to see if these alterations were previously refused?
Your property lawyer should review the registered title as conveyancing in Broad Haven will occasionally identify restrictions in the title documents which prevent categories of works or necessitated the consent of a 3rd party. Certain additions need local authority planning consent and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
The mortgage over my property is with Clydesdale for my property in Broad Haven. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?
Clydesdale must be informed of your intention before letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel solicitor.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Broad Haven I like with amenity areas and railway links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Broad Haven for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan that many years may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
What advice can you give us when it comes to appointing a Broad Haven conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Broad Haven conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Broad Haven conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
Can they put you in touch with clients in Broad Haven who can give a testimonial?
I invested in buying a leasehold flat in Broad Haven, conveyancing having been completed in 1995. Can you work out an approximate cost of a lease extension? Comparable properties in Broad Haven with an extended lease are worth £201,000. The ground rent is £45 invoiced every year. The lease ceases on 21st October 2083
With only 64 years unexpired we estimate the price of your lease extension to be between £14,300 and £16,400 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.