My wife and I are soon to exchange on the purchase of a property in Great Shelford but as a result of damage from some water damage at the property I have managed to agree compensation from the seller in the sum of £2k in the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process but Bank of Ireland will not permit this. Should they have been approached?
Your conveyancing practitioner that is on the Bank of Ireland approved list is duty bound to inform Bank of Ireland of any amendments to the purchase price. If you were to refuse your conveyancing practitioner to notify the price change to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new conveyancer for your conveyancing in Great Shelford.
A colleague suggested that where I am buying in Great Shelford I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Great Shelford conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Great Shelford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Great Shelford Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Great Shelford.
I purchased a 4 bedroom Georgian house in Great Shelford. Conveyancing solicitor acted for me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??
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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Shelford and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing practitioner who conducted the conveyancing.
I am looking for a flat up to £195,000 and identified one close by in Great Shelford I like with a park and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Great Shelford suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage that many years will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I am downsizing from my home. My previous lawyers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Great Shelford if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Great Shelford. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I have just appointed agents to market my 2 bed apartment in Great Shelford. Conveyancing has not commenced, but I have recently had a half-yearly service charge demand – what should I do?
The sensible thing to do is clear the invoice as you normally would given that all ground rent and maintenance invoices should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Great Shelford Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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Are there any major works in the planning that could add a premium to the maintenance fees? The majority of Great Shelford leasehold properties will have a service charge for the upkeep of the block invoiced on behalf of the freeholder. Should you buy the flat you will have to pay this liability, normally periodically accross the year. This could differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent to be met yearly, this is usually not a exorbitant amount, say around £25-£75 but you should to check as on occasion it could be prohibitively expensive. You should want to discover as much as you can concerning the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to every day matters such as the cleanliness of the communal areas. Enquire of prospective neighbours what they think of them. On a final note, investigate as to the dates that the service fees are due to the appropriate party and specifically what it includes.