My friend advised me that if I am buying in Common Edge I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Common Edge conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Common Edge around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Common Edge Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Common Edge.
Me and my brother purchased a terraced Edwardian property in Common Edge. Conveyancing practitioner represented me and Santander. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the matching property. Is it worth asking Santander to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Common Edge and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing solicitor who conducted the conveyancing.
I am purchasing a new build house in Common Edge benefiting from help to buy. The developers refused to reduce the amount so I negotiated £7000 of extras instead. The property agent advised me not inform my solicitor about the side-deal as it may put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 have been on the look out for a ground for flat up to £235,500 and found one close by in Common Edge I like with open areas and railway links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Common Edge in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan that many years may be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Common Edge. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
Most houses in Common Edge are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are purchasing in Common Edge in which case you should be looking for a Common Edge conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
Common Edge Conveyancing for Leasehold Flats - Sample of Queries before buying
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How is the lease structured? Where a Common Edge lease has less than eighty years it will affect the value of the property. It is worth checking with your bank that they are willing to lend given the lease term. Leases with less than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth discovering how much this will be. For most Common Edgelease extensions you would need to own the residence for a couple of years in order to be eligible to carry out a lease extension. Be sure to find out if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Common Edge. If you like the flatin Common Edge yet your dog is not allowed to make the move with you then you have a very hard decision.
A conveyancing firm handled my conveyancing in Common Edge half a dozen years ago and was holding my registration certificates but has since been shut down – how do I get hold of them?
Deeds, as such, no longer exist as the majority of homes in Common Edge are archived digitally at Land Registry. If you need to show evidence of proprietorship or are disposing of or refinancing your conveyancer should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.