Are the BSA intent on creating a search tool with a view to to identify firms on the Darlington Building Society conveyancing panel for example in Stroud?
We have not been informed any plans on the part of the BSA to develop such a register.
My relative suggested that if I am buying in Stroud I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Stroud conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Stroud around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Stroud.
I have todaybeen informed that Wolstenholmes have closed. They conducted my conveyancing in Stroud for a purchase of a leasehold apartment 10 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Stroud conveyancing specialists.
I am buying my first flat in Stroud with a mortgage from Virgin Money. The developers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not reveal to my conveyancer about this side-deal as it could affect my loan with Virgin Money. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Stroud is where the house is located. Can you shed any light on this issue?
Flying freeholds in Stroud are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stroud you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stroud may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I've recently bought a leasehold property in Stroud. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a studio flat in Stroud, conveyancing having been completed June 1995. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Stroud with over 90 years remaining are worth £211,000. The ground rent is £45 invoiced annually. The lease expires on 21st October 2093
You have 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.