Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Telford. My lender is Nationwide Building Society
Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 21/7/2019, the requirements read as follows :
We are buying a flat in Telford. It might be a silly question but how we can trust a solicitor? On the day of competition we have to deposit money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My wife and I buying a 4 bedroom semi-detached house in Telford. The intention is to carry out an extension to the side at the property.Will legal due diligence on the property include enquiries to see if these works are allowed?
Your solicitor should review the registered title as conveyancing in Telford will sometimes identify restrictions in the title deeds which prevent categories of changes or need the consent of a 3rd party. Some works need local authority planning permissions and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
Is it correct that all Telford CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing panel?
It is true that some lenders now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Telford is the location of the property. Is there any advice you can impart?
Flying freeholds in Telford are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Telford you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Telford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I’m about to sell my garden apartment in Telford. Conveyancing lawyers have not yet been instructed, but I have recently had a yearly service charge demand – what should I do?
The sensible thing to do is pay the invoice as normal because all ground rent and maintenance invoices should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a garden flat in Telford, conveyancing formalities finalised in 1999. Can you work out an approximate cost of a lease extension? Comparable flats in Telford with over 90 years remaining are worth £197,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2074
You have 55 years remaining on your lease the likely cost is going to range between £31,400 and £36,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
If instructed can a conveyancer remove someone from the title of my property in Telford ?
Subtracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer