Various internet forums that I have come across warn that are a common cause of delay in Southam conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Southam.
The deeds to my home can not be found. The lawyers who did the conveyancing in Southam 5 years ago are no longer around. What are my next steps?
Nowadays there are duplicates made of almost everything, and your solicitor should be aware precisely where to look for all the suitable documentation so you may buy or sell your property without any difficulty. Where copies can’t be located, your conveyancer can arrange cover in the form of insurance or indemnities protecting you against possible claims on your premises.
I am buying my first flat in Southam with a loan from Accord Mortgages Ltd. The developers would not budge the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not reveal to my conveyancer about the side-deal as it would jeopardize my mortgage with Accord Mortgages Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a property in Southam before retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks will refuse to give a loan on such a property.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Southam. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Southam to see if the conveyancing costs will increase in light of this.
In what way can the Landlord & Tenant Act 1954 affect my business offices in Southam and how can you help?
The 1954 Act affords a safeguard to commercial tenants, giving them the legal entitlement to make a request to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and help with commercial conveyancing in Southam
Can you offer any advice when it comes to finding a Southam conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for your lease extension (regardless if they are a Southam conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Southam conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
-
If the firm is not ALEP accredited then what is the reason?
Southam Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
-
The majority of Southam leasehold properties will be liable to pay a service charge for the upkeep of the building set by the freeholder. If you acquire the apartment you will have to pay this contribution, usually in instalments during the year. This could vary from several hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a ground rent to be met annual, ordinarily this is not a exorbitant amount, say about £25-£75 but you need to check it because occasionally it can be prohibitively expensive. What is the the remaining lease term? How much is the ground rent and service charge?