I have been told that property searches are the main reason for hinderance in Poundbury house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Poundbury.
four months have gone by since my purchase conveyancing in Poundbury took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Poundbury. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Poundbury
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. Please confirm the Lease plans are surveyor prepared. 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. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I have been on the look out for a ground for flat up to £235,500 and found one near me in Poundbury I like with open areas and railway links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Poundbury for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
Are there any apps to assist me to identify a Poundbury law firm on the Accord Mortgages Ltd conveyancing panel? I drive a motor bike and am willing to travel upto 10miles to meet the lawyer.
You can use the tool on this page. Please select a bank and your location and you will see a number of Poundbury conveyancing lawyers based on proximity. We have detailed some Poundbury conveyancing firms towards the end of this page and you can contact them to see if they are on the Accord Mortgages Ltd approved list