I am purchasing a newly built duplex in Redruth and my conveyancer is advising me that she has to the mortgage company to disclose incentives from the developer. I am on a tight deadline to exchange contracts and I would rather not prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My Solicitor in Redruth is not on the Clydesdale Solicitor Panel. Is it possible for me to continue with my prefered solicitor even though they are excluded from the Clydesdale panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Redruth solicitors but Clydesdale will need to retain a conveyancer on their panel. This will inevitably rack up the total legal fees as well as cause frustration.
- Get an alternative practitioner to to deal with the purchase, not forgetting to check they are Clydesdale approved.
- Persuade your Clydesdale based solicitor to seek to join the Clydesdale panel
Me and my partner are buying a house in Redruth. I might seem paranoid but how we can trust a conveyancer? On completion day we will need to put funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are purchasing a 4 bedroom semi-detached house in Redruth. Our aim is to carry out a loft conversion at the house.Will the conveyancing process include investigations to determine if these alterations are permitted?
Your property lawyer will check the registered title as conveyancing in Redruth can occasionally reveal restrictions in the title documents which restrict categories of works or require the consent of a 3rd party. Many extensions require local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
We have agreed to purchase a house in Redruth. A rare aspect is that the roof has a solar panel. UBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with UBS your lawyer must follow the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for UBS. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and conveyancers are required to report to UBS where a lease does not comply with these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Redruth.
Are there restrictive covenants that are commonly picked up during conveyancing in Redruth?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Redruth. 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…’
Due to the guidance of my in-laws I had a survey completed on a house in Redruth prior to retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders may refuse to give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Redruth. Conveyancing may be slightly more expensive based on your lender's requirements.
I have recently realised that I have Sixty One years left on my lease in Redruth. I need to get lease extension but my landlord is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. On the whole an enquiry agent would be useful to carry out a search and to produce a report to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s disappearance and the application to the County Court overseeing Redruth.
I purchased a split level flat in Redruth, conveyancing having been completed January 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Redruth with over 90 years remaining are worth £202,000. The ground rent is £60 per annum. The lease terminates on 21st October 2083
With just 57 years unexpired we estimate the price of your lease extension to be between £28,500 and £33,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.