Completed the sale of my flat in Penrhyn Bay last February yet the purchaser is Skype messaging every few hours complaining that his lawyer is waiting to hear from mysolicitor. What are the post completion sale formalities following completion?
Following your house sale your lawyer is obliged to deliver the transfer deeds and all supplemental paperwork to the purchaser's lawyers. If applicable, your conveyancer must also confirm that the legal charge in favour of the lender has been repaid to the buyers solicitors. There are no post completion steps specific conveyancing in Penrhyn Bay.
I am buying a 3 bedroom semi in Penrhyn Bay. Our aim is to convert the garage to an office at the house.Will legal work on the property involve investigations to ascertain if these works are allowed?
Your property lawyer will check the registered title as conveyancing in Penrhyn Bay can sometimes reveal restrictions in the title deeds which prevent certain changes or need the permission of a 3rd party. Some additions need local authority planning consent and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
I am being told by my conveyancer that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Penrhyn Bay?
The appropriate level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between National Westminster Bank and The Mortgage Works. Conveyancing lawyers as opposed to borrowers take out such policies.
is it true that all Penrhyn Bay solicitors on the Yorkshire BS conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do allow licenced conveyancers on their panel and in such a situation the firms would be governed by the Council of Licensed Conveyancers.
We are buying a property and the solicitor has raised the issue of Chancel Repair to which the house could be obligated to pay given it’s proximity to the area of such a church. He has mentioned insurance. Is this really necessary for conveyancing in Penrhyn Bay
Unless a previous acquisition of the house completed after 12 October 2013 you may take it that solicitors delivering conveyancing in Penrhyn Bay to continue to suggest a chancel search and or chancel repair liability policy.
I opted to have a survey done on a house in Penrhyn Bay in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend refuse to give a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you contact us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Penrhyn Bay. Conveyancing may be slightly more expensive based on your lender's requirements.
When it comes to leasehold conveyancing in Penrhyn Bay what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Penrhyn Bay. Most leases are drafted differently and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage
You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Norwich and Peterborough Building Society, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.
I invested in buying a 1 bedroom flat in Penrhyn Bay, conveyancing formalities finalised 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Penrhyn Bay with an extended lease are worth £197,000. The ground rent is £55 invoiced annually. The lease finishes on 21st October 2081
You have 55 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
What can I do to discover who owns a property in Penrhyn Bay?
Provided the premises is registered with the Land Registry, and you have enough details of the address of the premises, you will be able to see results from the HM Land Registry of the recorded proprietor for a a minimal charge.