Me and my partner are due to exchange buying a property in Poundbury but as a consequence of damage from some water damage at the property I have managed to agree reparation from the vendor of £2k in the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process however Santander are not allowing this. Should they have been involved?
The conveyancer that is on the Santander conveyancing panel is required to disclose to Santander of any amendments to the sale price. If you prohibit your conveyancing practitioner to notify the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in Poundbury.
The Poundbury conveyancing firm that I appointed last week on my purchase in Poundbury have suddenly shut down. I only went with them because I needed a lawyer on the Yorkshire BS conveyancing panel and my preferred Poundbury lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Yorkshire BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I need some expedited conveyancing in Poundbury as I have pressure to sign on the dotted line within one month. Fortunately I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are not getting a mortgage you are at liberty not to have searches carried out although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Poundbury the following are instances of what can show up and therefore affect market value: Refused Planning Applications, Overdue Charges, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up as part of conveyancing in Poundbury?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Poundbury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a ground for flat up to £305k and found one close by in Poundbury I like with a park and transport links nearby, however it's only got 49 years on the lease. There is not much else in Poundbury suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan that many years may be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
What does commercial conveyancing in Poundbury cover?
Poundbury conveyancing for business premises covers a wide range of advice, offered by qualified solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.