I am buying a property and require a conveyancing solicitor in Cowley who is on the Barclays conveyancing. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Barclays in certain locations such as Cowley. We dont recommend any particular firm.
How does conveyancing in Cowley differ for newly converted properties?
Most buyers of new build or newly converted property in Cowley approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because house builders in Cowley usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cowley or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Cowley is the location of the property. Can you offer any assistance?
Flying freeholds in Cowley are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cowley 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 Cowley may ascertain 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.
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Cowley. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to determine the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Cowley property is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The unexpired lease term was 69 years.
What are the frequently found defects that you see in leases for Cowley properties?
There is nothing unique about leasehold conveyancing in Cowley. Most leases are unique and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
-
Maintenance charge proportions which don’t add up to the correct percentage Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, The Royal Bank of Scotland, and Alliance & Leicester all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.
My husband and I intend to buy our first property in Cowley. Conveyancing lawyer already appointed. The mortgage adviser suggested that a survey is not needed as the house was only constructed 16 yrs ago.
You would be well advised to have a Home Buyer's Report. As the property is over 10 years old the property will not come with a warranty, so you don't want to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report could be enough. The report should highlight any obvious issues and recommend additional investigation if relevant. Where there are any indications of material issues get a comprehensive Building Survey from the beginning.