Please could you vouch for a Santander sanctioned Kidderminster conveyancing solicitor that can complete within 28 days? Am I best advised to choose a local Kidderminster conveyancer or a national comparison site?
We can recommend some very good Kidderminster conveyancing firms. Another option is to visit the main road in Kidderminster. Go in to two or three law practices and ask to speak with a conveyancing solicitor for a quote. Mention your requirements together with the reasons and get an assurance on speed. Appoint the lawyer that you are most comfortable with.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Kidderminster?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Kidderminster. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Kidderminster with a mortgage from Chelsea Building Society. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not disclose to my lawyer about this side-deal as it may affect my loan with Chelsea Building Society. 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 opted to have a survey done on a house in Kidderminster prior to appointing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some banks will not grant a loan on this type of premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kidderminster. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold flat in Kidderminster. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a 2 bed flat in Kidderminster, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Kidderminster with over 90 years remaining are worth £186,000. The ground rent is £55 yearly. The lease ceases on 21st October 2078
With only 52 years left to run we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
Our lawyer in Kidderminster has discovered a a legal deficiency with the lease for the property we are buying in Kidderminster. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that as he is on the bank conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.