Do I need to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Woburn Sands so that I can attend their offices if necessary.
Whereas this was necessary twenty years ago, most mortgage companies no longer need their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to hand over ID documents and there are still distinct advantages to using a local ayer, in your case a conveyancing solicitor in Woburn Sands.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Woburn Sands?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Woburn Sands. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Woburn Sands differ for new build properties?
Most buyers of new build premises in Woburn Sands contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because builders in Woburn Sands tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Woburn Sands or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a straight forward, chain free conveyancing. Woburn Sands is where the house is located. Is there any guidance you can give?
Flying freeholds in Woburn Sands 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 Woburn Sands you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woburn Sands may decide 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 premises.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450,000 flat in Woburn Sands next Thursday. The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Woburn Sands?
Woburn Sands conveyancing on leasehold apartments normally involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to respond to these enquiries the majority will be content to assist. They may charge a reasonable administration fee for answering questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee levied by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration fees, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I inherited a ground floor flat in Woburn Sands, conveyancing formalities finalised December 2005. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Woburn Sands with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2071
With 52 years unexpired we estimate the price of your lease extension to range between £29,500 and £34,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.