When can the exchange of contracts occur in domestic conveyancing in Royston and do I need to be at the lawyers office?
If you are round the corner to our conveyancing solicitors in Royston you are invited in to sign contracts. However, the firms we recommend supply countrywide coverage for conveyancing and give as equally detailed and professional a job for you when dealing with you digitally. The executing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the conveyancer to officially exchange at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Royston)to be in the office at the appropriate time.
My solicitor has informed me that defective lease insurance is required on my purchase. What is the level of cover for Royston conveyancing?
The appropriate level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Nationwide Building Society and Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such insurances.
Can you point me to a directory of Aldermore panel conveyancers in Royston on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings visible on the web. If you are seeking to appoint a Royston solicitor on the Aldermore please use our facility.
I had a mortgage agreed in principle with Clydesdale. Royston conveyancing solicitors are chosen. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
Some lenders take longer than others. Have Clydesdale done the valuation? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Are there restrictive covenants that are commonly picked up during conveyancing in Royston?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Royston. 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…’
Just had an offer accepted on a new build flat in Royston. Conveyancing is daunting 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 few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Royston
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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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
In what way can the Landlord & Tenant Act 1954 affect my business premises in Royston and how can you help?
The 1954 Act provides protection to business tenants, granting the right to make a request to court for a renewal lease and continue in occupation when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Royston
What makes a Royston lease problematic?
There is nothing unique about leasehold conveyancing in Royston. Most leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Barnsley Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.
I acquired a basement flat in Royston, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Royston with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ends on 21st October 2099
With 74 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to 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.