Having invested time reviewing mumsnet.com for a high-quality solicitor in Summertown, many comment that I must instruct a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home ownership transfers, trusted by some of the UK's biggest lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Summertown is one of the many areas in England and Wales where there are CQS solicitors.
Are there restrictive covenants that are commonly identified during conveyancing in Summertown?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Summertown. 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…’
I am purchasing a new build house in Summertown with the aid of help to buy. The sellers refused to move on the amount so I negotiated £7000 of extras instead. The estate agent advised me not disclose to my lawyer about the extras as it will impact my mortgage with the lender. 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 have been on the look out for a flat up to £195,000 and found one close by in Summertown I like with open areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Summertown for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I am on look out for some leasehold conveyancing in Summertown. Before diving in I want to be sure as to the unexpired term of the lease.
If the lease is recorded at the land registry - and 99.9% are in Summertown - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I own a leasehold flat in Summertown, conveyancing formalities finalised half a dozen years ago. 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? Corresponding flats in Summertown with a long lease are worth £207,000. The average or mid-range amount of ground rent is £60 yearly. The lease expires on 21st October 2082
With only 57 years remaining on your lease the likely cost is going to be between £28,500 and £33,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.
Our conveyancing solicitor in Summertown has requested from me identification documents asserting that this is part of his requirements as a conveyancer on the mortgage company Conveyancing panel. Can this be correct?
Anti-terror and anti-money-laundering rules require Summertown conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements