In the event thatI was to acquire a simple residential homein Nailsea for cash and have no survey and no local authority searches how much would I expect to to save on my conveyancing in Nailsea?
The sole reduction in fees you would achieve is the disbursement for searches. Your solicitor still got to do everything else - money laundering, correspond with your vendors property lawyer, SDLT submission, register the property etc. A slight saving might be made by not having to register a mortgage however it will not be meaningful.
Finally the sale completed on my house in Nailsea last November but our buyer keeps whats apping every few hours to say his lawyer needs to hear from mine. What are the post completion sale legalities now that I have sold?
After completion of your sale your conveyancer should send the transfer documentation and all of the paperwork to the purchaser's lawyers. Where appropriate, your lawyer must also confirm that the mortgage has been discharged to the buyers solicitors. There is unlikely to be post completion steps peculiar conveyancing in Nailsea.
I am buying a property in Nailsea. An unusual aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Nationwide your lawyer must comply with the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease does not satisfy these requirements. The requirements relate to the installation of panels on properties countrywide and is not restricted to Nailsea.
I currently have a mortgage with Nottingham for my property in Nailsea. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?
You must advise Nottingham prior to renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nottingham directly. You need not do this via a Nottingham conveyancing panel firm.
Clydesdale have agreed my mortgage in principle, my bid on a house in Nailsea has been agreed to, what happens next?
Your property agent will want to be advised as to your lawyer's details (ensure that the solicitors are on the bank’s panel). Call up Clydesdale or your financial adviser and finish off any outstanding documentation. Clydesdale will instruct a valuer who will get in contact with the estate agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. Clydesdale will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Nailsea.
I am buying a new build flat in Nailsea. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Nailsea
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Is it best to instruct a Nailsea conveyancing solicitor in close proximity to the house I am purchasing? We have a good friend who can perform the legal work but they are based 300miles drive away.
The benefit of a high street Nailsea conveyancing firm is that you can attend the office to execute paperwork, hand in your ID and pester them if necessary. Having local Nailsea know how is a bonus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and the majority were content that must trump using an unfamiliar Nailsea conveyancing solicitor just because they are based in the area.
I wish to sublet my leasehold flat in Nailsea. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
A lease governs the relationship between the freeholder and you the leaseholder; specifically, it will set out if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Nailsea do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the sublease.
I purchased a garden flat in Nailsea, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Nailsea with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2102
With just 77 years unexpired the likely cost is going to range between £7,600 and £8,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.