I have given 8 weeks notice to my current landlord and have to be out of my let out apartment in Broughton Astley by the end of next month. Conveyancing on my purchase is progressing. Is it possible to complete in 4 weeks as I wish to avoid having to find temporary accommodation?
Generally one should not give notice on a rental unless your lawyer suggests that you should. If you have not previously done so, contact to your lawyer and request that they cajole the sellers solicitors, try to get a realistic time scale from them that all parties will aim to achieve
I have been told by my lawyer that lack of right of way insurance is needed on my purchase. What is the level of cover for Broughton Astley conveyancing?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Halifax and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
I'm the sole beneficiary of my late father’s estate and I have everything in my name alone, including the house in Broughton Astley. Conveyancing formalities meant that the Land Registry date was in February. I plan to dispose of the house. I do know about the CML 6 month 'rule', which means that my property ownership will be regarded the same way as if I'd bought the property in February. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. Most lenders would take a practical view as this provision is chiefly there to pick up on subsales or the quick reselling of property.
Is it correct that all Broughton Astley CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing panel?
It is true that some lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
We are downsizing from our property in Broughton Astley and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Broughton Astley conveyancer would know that there is no such problem. It does beg the question why the purchasers used a web based conveyancing outfit rather than a conveyancing solicitor in Broughton Astley. Having lived in Broughton Astley for many years we know of no issue. Do we get in touch with our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Are there restrictive covenants that are commonly identified during conveyancing in Broughton Astley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Broughton Astley. 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've found a house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have subsequently discovered that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Broughton Astley. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Broughton Astley ?
The majority of houses in Broughton Astley are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Broughton Astley so you should seriously consider looking for a Broughton Astley conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
I acquired a 1 bedroom flat in Broughton Astley, conveyancing formalities finalised in 2003. Can you work out an approximate cost of a lease extension? Corresponding flats in Broughton Astley with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease terminates on 21st October 2082
With only 57 years unexpired we estimate the premium for your lease extension to span between £28,500 and £33,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
My husband and I are purchasing a first floor flat in Broughton Astley. When we first instructed conveyancer, we were told they were on all mainstream bank panels. Our mortgage broker contacted us just now to say that they don't seem to be on the Barclays approved list. Should that be true, what should we do? Should we simply find a different solicitor that is on their panel or should we cover the costs for dual representation, with Barclays selecting their own approved conveyancer.
Where you are acquiring a property with the assistance of a mortgage it is conventional for the purchaser’s solicitors to also act for the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancing practitioner has to meet. Some mortgage companies now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your lawyer should call Barclays to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Barclays's conveyancing panel and you may continue to use your own Broughton Astley solicitors, in which case it will likely add costs, and it may delay matters as you are adding another conveyancing practitioner into the mix.