I am due to complete buying a house in Kilgetty but as a result of damage from the recent storms I have was able negotiate recompense from the current proprietors of £3k in the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process but Santander will not agree to this. Should they have been informed?
Your conveyancer that is on a Santander approved list is required to inform Santander of any changes to the sale price. If you prohibit your conveyancing practitioner to notify the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new conveyancer for your conveyancing in Kilgetty.
I am selling our house in Kilgetty and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the buyers used a nationwide conveyancing practice rather than a conveyancing solicitor in Kilgetty. Having lived in Kilgetty for 4 years we know that this is a non issue. Should we get in touch with our local Authority to get clarification need.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
About to purchase a new build apartment in Kilgetty. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Kilgetty
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I opted to have a survey done on a house in Kilgetty ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies tend not give a loan on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. If you call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kilgetty. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking at a two maisonettes in Kilgetty both have approximately forty five years left on the lease term. Do I need to be concerned?
There is no doubt about it. A leasehold flat in Kilgetty is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Kilgetty conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Kilgetty Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying
Make sure you find out if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Kilgetty. If you love the apartmentin Kilgetty yet your dog can’t move with you then you will be presented with a difficult compromise. The answer will be helpful as a) areas can result in problems in the block as the common areas may start to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the running of the building you will need to have full disclosure It would be sensible to discover as much as possible regarding the company managing the block as they can either make your life much easier or uncomfortable. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to practical issues like the cleanliness of the communal areas. Ask prospective neighbours if they are happy with them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending that money.