I require conveyancing for an apartment in a fairly new development (seven years built) in Bolton. The vast majority the flats have already been sold. Is it really necessary to order local searches as part of conveyancing in Bolton?
You are putting yourself at risk in refusing to carrying out Bolton conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would absolutely advise in no uncertain terms that your conveyancer conducts them. If speed and cost are primary issues you should consider with your conveyancer about the options such as lack of search insurance available to you
We are selling our home in Bolton. Does my lawyer have to be required to be on the Nationwide conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
Various web forums that I have visited warn that are the number one cause of stalling in Bolton conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Bolton.
Are there restrictive covenants that are commonly identified during conveyancing in Bolton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bolton. 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…’
I decided to have a survey carried out on a property in Bolton in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies will not give a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bolton. Conveyancing will be smoother if you use a solicitor in Bolton especially if they are accustomed to such properties in Bolton.
I am on look out for some leasehold conveyancing in Bolton. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and most are in Bolton - 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.
Bolton Leasehold Conveyancing - Sample of Queries before Purchasing
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Who takes charge for maintaining and repairing the building? Are there any major works in the near future that will likely increase the maintenance costs? Many Bolton leasehold flats will be liable to pay a service charge for maintenance of the block set on behalf of the management company. If you buy the property you will have to pay this contribution, normally in instalments accross the year. This may be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a significant sum, say approximately £25-£75 but you should to enquire it because occasionally it could be many hundreds of pounds.