Various online forums that I have come across warn that are a common reason for delay in Kibworth house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of delay in conveyancing in Kibworth.
I own a semi-detached Victorian house in Kibworth. Conveyancing lawyer represented me and Halifax. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Kibworth and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.
I'm buying my first flat in Kibworth with a mortgage from Clydesdale. The sellers would not move on the price so I negotiated £7000 of extras instead. The sale representative advised me not disclose to my solicitor about this deal as it could affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
My husband and I are 18 days into a leasehold purchase having been recommend to solicitors by the local agent to carry out the conveyancing in Kibworth. I am am starting to be dissatisfied with the level of service. Could you you assist me in finding new lawyers?
They would have to be very poor to suggest changing them. Has the mortgage been generated? In the event that it has you will need to advise them of the new solicitor and have the mortgage documents are re-issued. The conveyancer needs to be on the banks approved list to avoid added fees and delays. That should be your starting point. Our search tool should assist you in finding a bank approved conveyancer for your home move in Kibworth
Due to exchange soon on a basement flat in Kibworth. Conveyancing solicitors have said that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Kibworth should include some of the following:
Responsibility to repair and maintain the block. It is essential that you know which party is responsible the repair and maintenance of all parts of the block and communal areas The physical extent of the premises. This may be the property itself but could also incorporate a roof area or basement if relevant. The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. The length of the lease term. You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark
I am the registered owner of a 1st floor flat in Kibworth, conveyancing formalities finalised in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Kibworth with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2071
With 52 years left to run we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.