I plan on acquiring an apartment in Bodfari. My Solicitor is not on the lender approved panel. Can I still retain my Bodfari conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
Your options include
- Complete the purchase with your existing Bodfari property lawyer but your mortgage company will need to use a property lawyer from their approved list. The net result is additional fees and potential interruption.
- Get a new conveyancing practitioner to act in the purchase, making sure they are on the lender conveyancing panel.
- Appeal to your conveyancer to apply to join the bank panel
Can the conveyancing solicitors that you recommend perform conveyancing in Bodfari by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct one day exchanges. You should call us to receive a conveyancing quote and details as to availability.
Are there restrictive covenants that are commonly identified as part of conveyancing in Bodfari?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bodfari. 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…’
About to purchase a new build flat in Bodfari. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Bodfari
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are surveyor prepared.
Due to the advice of my in-laws I had a survey completed on a house in Bodfari in advance of retaining conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may not give a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bodfari. Conveyancing may be slightly more expensive based on your lender's requirements.
Expecting to complete next month on a basement flat in Bodfari. Conveyancing solicitors inform me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bodfari should include some of the following:
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You should have a good understanding of the insurance requirements Repair and maintenance of the property The length of the lease term. You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years Who has the liability to repair and maintain the main walls and foundations. It is essential for you to know who is responsible the repair and maintenance of every part of the building Do you need to have carpet in the flat or are you allowed wood flooring?
I inherited a 2 bed flat in Bodfari, conveyancing formalities finalised February 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Bodfari with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease finishes on 21st October 2083
With only 58 years remaining on your lease we estimate the premium for your lease extension to range between £23,800 and £27,400 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.