My partner and I are purchasing our first property. Our conveyancer has contact usto see if we want to purchase supplemental conveyancing searches. We are really unsure what's necessary for conveyancing in Markyate
The type of Markyate conveyancing searches depends entirely on the premises, the location, the likelihood of any of these risks, your familiarity of the region and risks, your overall approach to risk. What matters is that you adequately understand what information each search could supply. Then you can decide if you personally think you need that search. Where you are in doubt, ask your lawyer to provide guidance.
I have justbeen informed that Wolstenholmes have been shut down. They conducted my conveyancing in Markyate for a purchase of a freehold house 18 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The quickest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Markyate conveyancing specialists.
I'm buying my first flat in Markyate benefiting from help to buy. The sellers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not reveal to my solicitor about this side-deal as it may put at risk my loan with the lender. 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 carried out on a house in Markyate ahead of instructing lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may not grant a mortgage on such a home.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Markyate. Conveyancing will be smoother if you use a solicitor in Markyate especially if they are acquainted with such properties in Markyate.
Can you offer any advice when it comes to appointing a Markyate conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Markyate conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Markyate conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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How familiar is the practice with lease extension legislation?
I purchased a split level flat in Markyate, conveyancing formalities finalised February 2008. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Markyate with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2076
With 51 years left to run we estimate the price of your lease extension to span between £30,400 and £35,200 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
There are a number of houses in Markyate on unadopted lanes. We are purchasing such a property. Are there any benefits to purchasing a house on a privately owned road?
Markyate conveyancing lawyers will be well versed in dealing homeson private. Your lawyer should investigate Land Registry data to identify any rights or responsibilities. In many cases there is a residents association that owners make annual contributions to maintain the road. If there is one, the road should be maintained and appear better than publicly owned.