My friend recommended that where I am buying in Callerton I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Callerton conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Callerton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Callerton Education with plans and statistics, Local Amenities and other useful information about Callerton.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Callerton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Callerton. 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 am purchasing a new build house in Callerton with a mortgage from Alliance & Leicester . The developers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not reveal to my conveyancer about this extras as it could impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Callerton is the location of the property. Can you offer any guidance?
Flying freeholds in Callerton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Callerton you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Callerton may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Am I right to be concerned by brokers that I am dealing with are recommending an online conveyancing firm as opposed to a High Street Callerton conveyancing company?
As with lots of professional services, often suggestions from connections can be extremely useful or valuable. Nevertheless there are numerous parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and lenders might all put forward lawyers to use. Sometimes these lawyers might be known to one of the organisations as being good in their field, but occasionally there behind the scenes commercial relationship behind the endorsement. You are free to appoint your preferred lawyer. You need to be aware that some lenders operate an approved list of law firms you must use for the mortgage aspect of your conveyancing.
What advice can you give us when it comes to finding a Callerton conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Callerton conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Callerton conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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How many lease extensions has the firm completed in Callerton in the last twenty four months?
I own a garden flat in Callerton, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Callerton with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £60 charged once a year. The lease finishes on 21st October 2082
With 57 years left to run we estimate the price of your lease extension to be between £28,500 and £33,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered 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 before getting professional advice.