Please help. My Chiseldon solicitor is advising me that he is legally obliged toconduct Chiseldon conveyancing searches becausethe firm are on the Lloydssolicitor panel. These Chiseldon checks cost a lot of money can this be avoided?
You have limited options available to you. As you are taking a mortgage with a mortgage company your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Chiseldon conveyancing searches.
My friend recommended that where I am purchasing in Chiseldon I should ask my conveyancer to perform 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 Chiseldon conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Chiseldon around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Chiseldon Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data about Chiseldon.
About to purchase a new build flat in Chiseldon. 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 legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Chiseldon
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Chiseldon I like with a park and railway links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Chiseldon for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
I only have 68 years remaining on my flat in Chiseldon. I now wish to get lease extension but my landlord is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to locate the freeholder. On the whole an enquiry agent may be useful to conduct investigations and to produce an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on proving the landlord’s disappearance and the application to the County Court covering Chiseldon.
I am the registered owner of a basement flat in Chiseldon, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Chiseldon with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease expires on 21st October 2097
You have 71 years left to run the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
My conveyancers in Chiseldon have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the bank directly.