I am considering applying for a Skipton mortgage for purchase of a newly converted (under development) in Garndolbenmaen with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Skipton ?
In theory, you could use a solicitor that is not on the Skipton conveyancing panel, but Skipton would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I have been told that property searches are a common cause of hinderance in Garndolbenmaen house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Garndolbenmaen.
Are there restrictive covenants that are commonly identified as part of conveyancing in Garndolbenmaen?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Garndolbenmaen. 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…’
I opted to have a survey completed on a property in Garndolbenmaen in advance of retaining conveyancers. I have been told that there is a flying freehold element to the house. My surveyor has said that some banks tend not give a loan on such a house.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Garndolbenmaen. Conveyancing will be smoother if you use a solicitor in Garndolbenmaen especially if they are familiar with such properties in Garndolbenmaen.
Are there common problems that you see in leases for Garndolbenmaen properties?
There is nothing unique about leasehold conveyancing in Garndolbenmaen. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
A provision to repair to or maintain elements of the building Maintenance charge proportions which don’t add up to the correct percentage
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and TSB 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 purchaser to withdraw.
I am the registered owner of a 1 bedroom flat in Garndolbenmaen, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Garndolbenmaen with an extended lease are worth £202,000. The ground rent is £60 charged once a year. The lease comes to an end on 21st October 2075
With just 56 years left to run we estimate the price of your lease extension to span between £29,500 and £34,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.