My partner and I are purchasing a newly built flat in Buckinghamshire and my conveyancer is advising me that she has to the bank to reveal incentives from the builder. I am under pressure to exchange and my preference is not to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am buying a terraced house in Buckinghamshire. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Buckinghamshire you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Buckinghamshire.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Buckinghamshire?
Many commercial conveyancing solicitors in Buckinghamshire will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Buckinghamshire. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Buckinghamshire.
For each commercial conveyancing transaction in Buckinghamshire it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Buckinghamshire commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Buckinghamshire.
Are there restrictive covenants that are commonly picked up during conveyancing in Buckinghamshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Buckinghamshire. 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…’
Over the last few months I have been searching for a ground for flat up to £245,000 and found one near me in Buckinghamshire I like with open areas and station in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Buckinghamshire for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.