It has come to my attention via my mortgage adviser that my Crewkerne solicitor is not on the mortgage company Solicitor panel. How can I check?
The first thing you need to do is to contact your Crewkerne lawyer directly. You lawyer should inform you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
Last September we completed a house move in Crewkerne. We have since encountered a number of issues with the house which we believe were omitted in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been ordered as part of conveyancing in Crewkerne?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Crewkerne. Conveyancing searches and due diligence initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, a seller answers a questionnaire known as a Seller’s Property Information Form. answers provided is inaccurate, you could possibly take legal action against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Crewkerne.
We are selling our house in Crewkerne. Will my conveyancer have to be on the Nottingham conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham 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.
My friend advised me that where I am purchasing in Crewkerne I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Crewkerne conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Crewkerne 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, Crewkerne Education with plans and statistics, Local Amenities and other useful data concerning Crewkerne.
About to purchase a new build apartment in Crewkerne. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Crewkerne
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. 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.
I work for a long established estate agent office in Crewkerne where we have witnessed a number of flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Crewkerne conveyancing solicitors. Please can you shed some light as to whether the vendor of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a 1st floor flat in Crewkerne, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Crewkerne with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease runs out on 21st October 2090
With just 65 years unexpired we estimate the price of your lease extension to span between £13,300 and £15,400 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.