What will a local search inform me regarding the house I am purchasing in North Somerset?
North Somerset conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search is essential in every North Somerset conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I am purchasing my first flat in North Somerset with the aid of help to buy. The builders would not budge the price so I negotiated £7000 of additionals instead. The estate agent advised me not to tell my solicitor about this extras as it could affect my loan with Platform Home Loans Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I opted to have a survey done on a property in North Somerset prior to appointing solicitors. I have been advised that there is a flying freehold element to the house. My surveyor advised that some lenders tend refuse to issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can look into this further with 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 North Somerset. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in North Somerset to see if the conveyancing will be more expensive.
What does commercial conveyancing in North Somerset cover?
North Somerset conveyancing for business premises incorporates a broad range of guidance, provided by regulated solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I own a leasehold flat in North Somerset. Conveyancing and Leeds Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in North Somerset who acted for me is not around. What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to instruct a North Somerset conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a leasehold flat in North Somerset, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar flats in North Somerset with an extended lease are worth £197,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2075
With only 55 years left to run we estimate the premium for your lease extension to be between £31,400 and £36,200 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.