Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Nantwich. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 24/1/2023, the requirements read as follows :
I require quick conveyancing in Nantwich as I am under a deadline to exchange contracts within 3 weeks. A home loan is not required. Can I decline from having conveyancing searches to save money and time?
If.Given you are not taking a mortgage you are at free not to do searches although no lawyer would suggest that you don't. Drawing on our experience of conveyancing in Nantwich the following are examples of issues that can show up and therefore impact market value: Enforcement Actions, Overdue Fees, Outstanding Grants, Railway Schemes,...
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Nantwich is the location of the property. Is there any advice you can impart?
Flying freeholds in Nantwich are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Nantwich you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Nantwich may ascertain 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 premises.
My husband and I are a couple of weeks into a freehold purchase having been referred to solicitors by the high street agent to do our conveyancing in Nantwich. We are not happy. Could you you assist me in finding new solicitors?
They would have to be very poor to suggest changing them. Has your mortgage been sent? In the event that it has you need to inform them of the new lawyer and ensure the offer are re-sent. Your solicitor ideally should be on the lenders approved list to avoid added charges and frustration. So that should be your starting point. The find a solicitor tool will assist you in finding a bank approved solicitor for your home move in Nantwich
Do you have any advice for leasehold conveyancing in Nantwich from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Nantwich can be reduced where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Many freeholders or managing agents in Nantwich charge for providing management packs for a leasehold premises. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of frustration in leasehold conveyancing in Nantwich. If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Organising a re-issued share certificate can be a lengthy formality and slows down many a Nantwich home move. If a duplicate share is required, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity. In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Nantwich state that internal structural alterations or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you fail to have the approvals in place do not contact the landlord without contacting your lawyer before hand.
I am the registered owner of a 2 bed flat in Nantwich, conveyancing formalities finalised June 2012. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Nantwich with over 90 years remaining are worth £185,000. The ground rent is £65 yearly. The lease terminates on 21st October 2084
With just 61 years remaining on your lease the likely cost is going to span between £18,100 and £20,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.