Please help - my lawyer says that lack of building regulations insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Woodbury?
The right level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between Barclays and The Royal Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such insurances.
Is it the case that all Woodbury CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
A selection of banks and building societies now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
After shopping around on the internet I have found a Woodbury conveyancing practitioner having made sure that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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. You may wish to consider appointing your own Woodbury surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I opted to have a survey completed on a property in Woodbury in advance of appointing conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may not grant a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you e-mail us we can look into this further with 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 Woodbury. Conveyancing will be smoother if you use a solicitor in Woodbury especially if they are accustomed to such properties in Woodbury.
I have been advised by two or three local selling agents in Woodbury to locate a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to market your lawyers over a competitor’s?
We don’t offer any commission for directing people our way. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
As co-executor for the estate of my grandmother I am selling a property in Cardiff but I am based in Woodbury. My solicitor (based 260 kilometers awayhas requested that I execute a statutory declaration prior to completion. Could you suggest a conveyancing solicitor in Woodbury who can attest and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are Woodbury based
Last February I purchased a leasehold flat in Woodbury. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Woodbury Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing
Most Woodbury leasehold properties will be liable to pay a service charge for the upkeep of the block levied by the freeholder. Should you purchase the property you will have to pay this contribution, usually quarterly during the year. This could differ from several hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge for you to pay yearly, this is usually not a exorbitant figure, say around £50-£100 but you should to check as occasionally it can be surprisingly expensive. Best to be warned if window replacement or some other significant cost is pending to be shared between the leaseholders and may well materially increase the the service costs or necessitate a one off invoice. What is the the remaining lease term?