Please help - my lawyer says that lack of planning permission insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Ironbridge?
The appropriate level of lack of planning permission indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and Skipton Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
I have decided to exercise my right to buy my property in Ironbridge off the council. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
After shopping around on the internet I have found a Ironbridge conveyancing practitioner having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Ironbridge postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Ironbridge.
I am looking for a leasehold apartment up to £305k and identified one near me in Ironbridge I like with a park and station nearby, however it only has 49 years unexpired on the lease. There is not much else in Ironbridge in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan that many years will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
How can the Landlord & Tenant Act 1954 affect my commercial property in Ironbridge and how can you help?
The 1954 Act provides security of tenure to business tenants, giving them the a statutory right to make a request to court for a new lease and continue in occupation when the lease comes to an end. There are limited grounds that 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 help with commercial conveyancing in Ironbridge
I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Ironbridge. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
Most houses in Ironbridge are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Ironbridge in which case you should be shopping around for a Ironbridge conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is located on an estate. Your lawyer should advise you fully on all the issues.
Leasehold Conveyancing in Ironbridge - Sample of Queries before Purchasing
The best form of lease structure is a share of the freehold. In this scenario the leaseholders enjoy control and although a managing agent is usually employed if the building is larger than a house conversion, the managing agent retained by the leaseholders. What is the the remaining lease term? Is there a share of the freehold?
Would local authority consent be required to convert a single dwelling into two appartments in Ironbridge? This has occurred to a property opposite to my house in Ironbridge and was not aware of the conversion until the works were finished.
Planning Permission yes. Building Reg Approval yes.