A relative informed me that in purchasing a property in Basingstoke there could be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?
There are anumerous of properties in Basingstoke which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Basingstoke should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I was told three weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Basingstoke is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Coventry BS have agreed my mortgage in principle, my offer on a property in Basingstoke has been agreed to, now what?
The estate agent will wish to be informed of your conveyancing practitioner's details (ensure that the property lawyers are on the bank’s approved list). Contact Coventry BS or the financial adviser and finalise any appropriate forms. Coventry BS will instruct a valuer who will get in touch with the estate agent or vendor to schedule a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a week to receive the mortgage offer. Coventry BS will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Basingstoke.
Should my lawyer be asking questions about flooding during the conveyancing in Basingstoke.
Flooding is a growing risk for lawyers dealing with homes in Basingstoke. There are those who purchase a property in Basingstoke, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that may be carried out by the purchaser or by their lawyers which can figure out the risks in Basingstoke. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to determine whether the property has historically flooded. In the event that the premises has been flooded in past and is not revealed by the seller, then a buyer may bring a compensation claim as a result of such an misleading answer. A buyer’s solicitors should also conduct an enviro report. This should disclose if there is a recorded flood risk. If so, further investigations should be made.
My wife and I purchased a renovated Edwardian house in Basingstoke. Conveyancing practitioner acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Basingstoke and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing solicitor who conducted the work.
I am buying a new build house in Basingstoke benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my conveyancer about the deal as it will adversely affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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'm converting the mortgage on my current home to a BTL mortgage with The Royal Bank of Scotland and I will use the rest of the raised equity towards another property. The neighborhood we are looking at is Basingstoke. Will your lawyers be able to act for the two lenders and tie in the transactions?
Make use of our search tool on this site to check that the conveyancers are approved by both lenders. Assuming that they are the solicitor will be able to connect the two deals but you should have a chat with you conveyancer and communicate your expectations and needs.
I own a leasehold house in Basingstoke. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Basingstoke who previously acted has now retired. Any advice?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Basingstoke conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Basingstoke Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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How much is the annual maintenance fee and ground rent? This question is useful as a) areas could cause problems in the building as the communal areas may start to deteriorate where maintenance remain unpaid b) if the leaseholders have an issue with the running of the building you will need to have all the details Can you inform me if there are any major works in the near future that could add a premium to the maintenance costs?