We are acquiring a newly built duplex in Rothwell and my solicitor is informing me that she is duty bound to the bank to reveal incentives from the builder. I am on a tight deadline to sign contracts and I have no desire to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We have a mortgage agreed in principle with Clydesdale. Rothwell conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
There is no definitive answer here. Have Clydesdale done the valuation? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in Rothwell. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Clydesdale be concerned?
As you are obtaining a mortgage with Clydesdale your lawyer must comply with the conveyancing requirements set out in Part 2 of UK Finance Lenders’ Handbook for Clydesdale. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Clydesdale where a lease fails to comply with these provisions. The conditions relate to the installation of panels on properties nationwide and is not restricted to Rothwell.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Rothwell solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Rothwell postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Rothwell.
I am looking for a ground for flat up to £305k and identified one near me in Rothwell I like with amenity areas and railway links nearby, however it's only got 52 years unexpired on the lease. There is not much else in Rothwell for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
I need to instruct a conveyancing solicitor for purchase conveyancing in Rothwell. I have land on a web site which appears to be the perfect solution If it is possible to get all formalities done via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My fiance and I may need to let out our Rothwell 1st floor flat for a while due to a new job. We instructed a Rothwell conveyancing practice in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is permitted. Most leases in Rothwell do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Leasehold Conveyancing in Rothwell - Examples of Questions you should consider before buying
How much is the ground rent and service charge? Plenty Rothwell leasehold apartments will incur a service charge for the upkeep of the building set by the landlord. Where you acquire the flat you will have to meet this contribution, usually quarterly during the year. This may differ from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay yearly, this is usually not a exorbitant sum, say approximately £50-£100 but you should to enquire as sometimes it can be many hundreds of pounds. This information is helpful as a) areas can result in problems for the building as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure