Me and my partner are due to complete buying a house in Nether Edge but as a consequence of damage from a small fire at the property I have managed to agree reparation from the seller in the sum of £3k taking the form of a deduction in the price. I had intended this to be dealt with as part of a side agreement but RBS are not allowing this. Should they have been approached?
Your solicitor that is on a RBS approved list is required to advise RBS of any changes to the purchase price. If you were to refuse your property lawyer to disclose the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new property lawyer for your conveyancing in Nether Edge.
I am considering applying for a UBS mortgage for purchase of a newly converted (under development) in Nether Edge with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for UBS ?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
It has been 4 months since my purchase conveyancing in Nether Edge took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
The estate agent has sent us the confirmation of our purchase of a new build flat in Nether Edge. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Nether Edge
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Due to the advice of my in-laws I had a survey completed on a property in Nether Edge ahead of appointing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor advised that some banks tend not grant a loan on such a house.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Nether Edge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Nether Edge to see if the conveyancing costs will increase in light of this.
I am hoping to put an offer on a small detached house that seems to be perfect, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Nether Edge. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Nether Edge are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Nether Edge so you should seriously consider looking for a Nether Edge conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer should advise you fully on all the issues.
Nether Edge Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
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Are any of leasehold owners in dispute over their service charge payments? Are there any major works on the horizon that could add a premium to the maintenance costs? It would be wise to find out as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to daily matters like the cleanliness of the communal areas. Enquire of prospective neighbours what they think of them. Finally, be sure you know the dates that the maintenance fees are due to the managing agents and precisely what it includes.