We're in Eynsham, First time buyers purchasing with a mortgage (lender is Coventry BS , and our solicitor is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm purchasing my first flat in Eynsham with a mortgage from The Royal Bank of Scotland. The builders would not reduce the price so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my conveyancer about the deal as it may affect my mortgage with The Royal Bank of Scotland. Is this normal?.
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 house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Eynsham is the location of the property. Can you offer any advice?
Flying freeholds in Eynsham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Eynsham you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Eynsham may determine 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.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Eynsham and how can you help?
The 1954 Act gives protection to business leaseholders, granting the right to make a request to court for a new tenancy and continue in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Eynsham
What are your top tips when it comes to appointing a Eynsham conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Eynsham conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Eynsham conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be of use:
How experienced is the firm with lease extension legislation?
Leasehold Conveyancing in Eynsham - Sample of Questions you should ask before buying
The answer will be helpful as a) areas could result in problems for the block as the communal areas may start to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the running of the building you will wish to have full disclosure Is anyone aware of any major works in the planning that will add a premium to the maintenance charges? Does the lease include onerous restrictions?