My partner and I are purchasing a brand new apartment in Stow on the Wold and my solicitor is advising me that she has to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to exchange contracts and my preference is not to delay deal. Is my lawyer right?
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.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Stow on the Wold?
Its becoming the norm that commercial conveyancing solicitors in Stow on the Wold will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Stow on the Wold. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Stow on the Wold.
For every commercial conveyancing transaction in Stow on the Wold it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Stow on the Wold commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Stow on the Wold.
Due to the input of my in-laws I had a survey completed on a house in Stow on the Wold before appointing solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some lenders tend not issue a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Stow on the Wold. Conveyancing may be slightly more expensive based on your lender's requirements.
Having checked my lease I have discovered that there are only Seventy years unexpired on my flat in Stow on the Wold. I am keen to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the freeholder. On the whole a specialist would be useful to carry out a search and prepare a report which can be used as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the vesting order request to the County Court covering Stow on the Wold.
I acquired a 2 bed flat in Stow on the Wold, conveyancing was carried out October 2009. Can you work out an approximate cost of a lease extension? Corresponding flats in Stow on the Wold with an extended lease are worth £175,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2077
You have 58 years remaining on your lease we estimate the premium for your lease extension to be between £23,800 and £27,400 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
I have been Googling for Stow on the Wold competitive conveyancing fees. Can I be assured that all the Stow on the Wold practices that are identified on your site are on the bank conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the mortgage company panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Stow on the Wold firm being on the mortgage company conveyancing panel is not accurate.