Me and my partner are soon to exchange buying a property in Northleach but as a result of damage from a small fire at the property I have was able negotiate compensation from the owner of six thousand pounds by way of a adjustment in the price. I had intended this to be addressed as part of a side agreement however RBS are not allowing this. Why were they informed?

Your solicitor that is on a RBS approved list is required to advise RBS of any changes to the purchase price. If you prohibit your property lawyer to notify the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Northleach.

Why is leasehold purchase conveyancing in Northleach is more expensive?

Northleach leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I decided to have a survey done on a house in Northleach before retaining conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders may not grant a loan on such a property.

It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Northleach. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Northleach to see if the conveyancing will be more expensive.

Is it possible to transfer to a new solicitor as I need to find one who is on the Yorkshire Building Society conveyancing panel. I hired a high street conveyancing solicitor in Northleach five minutes from me but she is not approved by Yorkshire Building Society

We will our best to assist in finding you a conveyancing solicitor in Northleach on the Yorkshire Building Society panel. Please note that the conveyancers that we list do not pay us fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Northleach. Using search facility on this website, you can contrast charges for conveyancing solicitors in Northleach and throughout England and Wales.

What are the common defects that you see in leases for Northleach properties?

Leasehold conveyancing in Northleach is not unique. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:

A provision for the recovery of money spent for the benefit of another party.

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.

Northleach Conveyancing for Leasehold Flats - Examples of Queries before Purchasing

In the main the cost for major works are not wrapped into the service charges, although a few managing agents in Northleach require leasehold owners to pay into a reserve fund created for the specific purpose of establishing a fund for major works. What is the yearly maintenance fee and ground rent? The answer will be helpful as a) areas can result in problems in the block as the communal areas may start to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the running of the building you will wish to know about it