My husband and I are purchasing a newly constructed flat in Ascot and my conveyancer is advising me that she is duty bound to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I have no desire to delay matters. 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 lender 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.
My wife and I have recently appointed a conveyancing solicitor in Ascot. I I would like to check whether they are on the Aldermore approved list of lawyers. Could you help?
You should call the solicitor and enquire if they can act for the lender. Alternatively please get in touch with Aldermore who may be able to assist.
Do commercial conveyancing searches reveal proposed roadworks that may impact a commercial site in Ascot?
Many commercial conveyancing solicitors in Ascot will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Ascot. The report 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 Ascot.
For every commercial conveyancing transaction in Ascot it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Ascot commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Ascot.
Are there restrictive covenants that are commonly picked up during conveyancing in Ascot?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Ascot. 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…’
My cousin has recommend that I use his conveyancing solicitors in Ascot. Should I use them?
No doubt the ideal way to select a conveyancing solicitor is to have guidance from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.
I've recently bought a leasehold property in Ascot. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee 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. It is an essential part 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).
Leasehold Conveyancing in Ascot - Sample of Queries Prior to buying
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The majority of Ascot leasehold flats will incur a service charge for the upkeep of the block set on behalf of the landlord. Where you acquire the property you will have to pay this contribution, normally in instalments throughout the year. This could differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a rentcharge for you to pay annual, this is usually not a significant amount, say around £50-£100 but you need to enquire as sometimes it can be prohibitively expensive. What is the name of the managing agents? Is there a share of the freehold?