I am hoping to complete my purchase in Dawley and Lawley next Friday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
Any lawyer on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not specific to conveyancing in Dawley and Lawley.
I am the registered owner of a freehold residence in Dawley and Lawley but still charged rent, why is this and what is this?
It’s unusual for properties in Dawley and Lawley and has limited impact for conveyancing in Dawley and Lawley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
My brother-in-law has suggested I instruct a conveyancing solicitor in Dawley and Lawley. I need to find out if they are on the Yorkshire Building Society conveyancing panel. Can you advise?
The first thing to do is e-mail your lawyer and enquire if they are on the lender panel. Alternatively you can get in touch with Yorkshire Building Society who may be able to assist.
Me and my partner are buying a property in Dawley and Lawley. I might seem paranoid but how we can trust a lawyer? At some point we will need to put our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
If you had a top tip for choosing a conveyancing solicitor in Dawley and Lawley what would it be?
It would be unwise to be tempted by the lowest Dawley and Lawley conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
I'm the only recipient of my late grandmother’s estate and I have everything in my name alone, including the my former home in Dawley and Lawley. The Dawley and Lawley property was put into my name in November. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the house in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Some lenders would take a pragmatic view as this provision is primarily there to identify subsales or the quick reselling of properties.
Just had an offer accepted on a new build flat in Dawley and Lawley. Conveyancing is daunting 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 conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Dawley and Lawley
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared.
There are only Sixty One years left on my lease in Dawley and Lawley. I now wish to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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. You will be obliged to demonstrate that you have used your best endeavours to find the landlord. In some cases an enquiry agent should be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Dawley and Lawley.
I invested in buying a leasehold flat in Dawley and Lawley, conveyancing was carried out May 2008. How much will my lease extension cost? Similar flats in Dawley and Lawley with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease expires on 21st October 2093
With just 69 years unexpired we estimate the premium for your lease extension to span between £9,500 and £11,000 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.