We are purchasing a new build duplex in Lydney and my conveyancer is informing me that she has to the lender to reveal incentives from the seller. I am nearing the developer’s deadline to exchange contracts and I have no desire to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Completed the sale of my flat in Lydney last September yet the purchaser is whats apping me complaining that her conveyancer needs to hear from myconveyancer. What should my lawyer have done now that I have sold?
Following your sale your conveyancer should send the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer must also confirm that the mortgage has been discharged to the purchasers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Lydney.
We are buying a 3 bedroom semi in Lydney. The intention is to convert the garage to an office at the property.Will legal investigations on the property involve enquiries to ascertain if these alterations were previously refused?
Your property lawyer will review the deeds as conveyancing in Lydney can sometimes identify restrictions in the title documents which restrict categories of works or necessitated the permission of a 3rd party. Certain works call for local authority planning consent and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be wise to check these issues with a surveyor prior to committing yourself to a purchase.
I am purchasing a property in Lydney. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
As you are obtaining a mortgage with Nationwide your lawyer must check the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and solicitors are required to report to Nationwide where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Lydney.
The formalities of my purchase has taken place for my property in Lydney. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
How does conveyancing in Lydney differ for new build properties?
Most buyers of new build or newly converted property in Lydney approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Lydney typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lydney or who has acted in the same development.
Estate agents have just been given the go-ahead to market my garden flat in Lydney. Conveyancing has not commenced, however I have recently received a quarterly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as usual because all rents and service invoices should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage 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 until 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. This will smooth the conveyancing process.
I bought a 2 bed flat in Lydney, conveyancing having been completed July 1998. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Lydney with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ends on 21st October 2076
With 51 years unexpired we estimate the price of your lease extension to be between £30,400 and £35,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.
Is it the case that all Lydney solicitors on every lender conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your local bank branch in Lydney. Chances are that they can recommend conveyancing solicitors in Lydney