We are purchasing a house and the lawyer has identified Chancel Repair to which the property could be liable given it’s proximity to the area of such a church. He has mentioned insurance. Is this strictly appropriate for conveyancing in Banwell
Unless a previous acquisition of the premises took place post 12 October 2013 you can expect lawyers carrying out conveyancing in Banwell to continue to recommend a chancel search and or insurance against a claim.
I have todaybeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in Banwell for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The quickest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Banwell conveyancing specialists.
How does conveyancing in Banwell differ for newly converted properties?
Most buyers of new build property in Banwell contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Banwell typically buy the real estate, 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 used to new build conveyancing in Banwell or who has acted in the same development.
We're FTB’s - agreed a price, but the agent advised that the seller will only proceed if we appoint the agent's recommended lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor with experience of conveyancing in Banwell
It is unlikely the sellers are driving this. Should the owner require ‘a quick sale', turning down a serious purchaser is counter productive. Try to communicate with the vendors directly and make sure they comprehend that (a)you are serious buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you are going to use your preferred Banwell conveyancing firm - not the ones that will provide the negotiator at the agency a kickback or hit his conveyancing thresholds pre-set by HQ.
Having had my offer accepted I require leasehold conveyancing in Banwell. Before I set the wheels in motion I want to be sure as to the remaining lease term.
Assuming the lease is registered - and most are in Banwell - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a garden flat in Banwell, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Banwell with an extended lease are worth £185,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2085
You have 60 years left to run the likely cost is going to be between £20,000 and £23,000 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs 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 other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
22 days into buying a house in Banwell. Conveyancing solicitor has told us the property is "Leasehold". Should this adversely affect our lender’s valuation?
Banwell conveyancing does not usually involve leasehold houses. The key factor here is the length of lease and the ground rent. If it's 999 years with a peppercorn rent, it's almost the same as freehold, so it shouldn't impact the value too much.
On the flip side, if it's, say, 50 years it is bound to have a adverse impact on the saleability, and most likely wouldn't be mortgageable. The length of lease and ground rent will be stated in the lease provided to your lawyer.