I am buying a property mortgage free in West Dean. I have resided for the previous dozen years in West Dean. Conveyancing searches are expensive. Given that I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a home loan, then almost all of the West Dean conveyancing searches are at your discretion. Your solicitor will 'advise', no-doubt strongly, that you should have searches carried out, but he has a professional duty to take that path of encouragement . One thing to consider; if you are likely to dispose of the house in the future, it will be of interest to your prospective buyer what the searches determine. On occasion premises with functional issues can still reveal detrimental search results. A competent conveyancing solicitor in West Dean will be able to give you some practical guidance here.
Are the BSA intent on creating a searchable register to to identify firms on the Melton Mowbray Building Society conveyancing panel for example in West Dean?
We are not aware of any plans on the part of the BSA to promote such a search facility.
I'm purchasing my first flat in West Dean with the aid of help to buy. The developers refused to reduce the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not disclose to my solicitor about the side-deal as it will impact my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in West Dean I like with open areas and station in the vicinity, however it only has 61 years on the lease. I can't really find anything else in West Dean in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
If all goes to plan we aim to complete our sale of a £325,000 maisonette in West Dean on Wednesday in a week. The management company has quoted £312 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in West Dean?
West Dean conveyancing on leasehold apartments more often than not requires the buyer’s lawyer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be willing to assist. They may levy a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge invoiced by the landlord must be accompanied by a summary of entitlements and obligations in relation to administration fees, otherwise the charge is not strictly payable. Reality however dictates that one has no choice but to pay whatever is demanded should you wish to complete the sale of your home.
I purchased a studio flat in West Dean, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in West Dean with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2091
You have 71 years left to run the likely cost is going to be between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.