I sincerely hope you can assist me. My Heath solicitor is informing me me that he has toconduct Heath conveyancing searches resulting from the fact thatthe firm are on the Lloydssolicitor panel. Is my solicitor correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Heath conveyancing searches.
I own a freehold property in Heath but still charged rent, why is this and what is this?
It’s unusual for properties in Heath and has limited impact for conveyancing in Heath 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 establishment 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 extinguished.
We are purchasing a property and the conveyancer has mentioned Chancel Repair for which the house could be liable because it falls into the area of such a church. She has mentioned insurance. Is this really necessary for conveyancing in Heath
Unless a prior purchase of the house took place post 12 October 2013 you could expect solicitors conducting conveyancing in Heath to remain recommending a chancel search and or insurance against a claim.
I am purchasing a new build house in Heath benefiting from help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not inform my conveyancer about this side-deal as it may adversely affect my mortgage with Clydesdale. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
My husband and I are novice buyers - agreed a price, yet the selling agent advised that the seller will only issue a contract if we appoint their recommended lawyers as they need a ‘quick sale’. We would rather use a family conveyancer who is familiar with conveyancing in Heath
We suspect that the seller is not behind this demand. If they desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and explain that (a)you are motivated purchasers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to use your preferred Heath conveyancing lawyers - not the ones that will provide the negotiator at the agency a kickback or achieve conveyancing targets set by head office.
I work for a reputable estate agency in Heath where we have witnessed a number of flat sales derailed due to short leases. I have been given contradictory information from local Heath conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can start 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 start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
An alternative approach is 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 buyer.
I invested in buying a garden flat in Heath, conveyancing formalities finalised 4 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Heath with a long lease are worth £260,000. The ground rent is £50 levied per year. The lease ceases on 21st October 2100
You have 75 years left to run we estimate the premium for your lease extension to range between £8,600 and £9,800 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and clearly you 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.