I am hoping to receive a offer of a home loan from Santander. I would like to employ the services of a Licensed Conveyancer in The Meadows. Does the Santander Solicitor panel include conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Due to complete my purchase in The Meadows next Thursday. My property lawyer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not specific to conveyancing in The Meadows.
Will commercial conveyancing searches reveal planned roadworks that could affect a commercial premises in The Meadows?
Its becoming the norm that commercial conveyancing solicitors in The Meadows will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in The Meadows. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in The Meadows.
For every commercial conveyancing transaction in The Meadows it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to The Meadows commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in The Meadows.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. The Meadows is where the house is located. Can you offer any guidance?
Flying freeholds in The Meadows are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in The Meadows you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in The Meadows may ascertain 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 am a couple of weeks into a leasehold purchase having been recommend to solicitors by the estate agent to perform conveyancing in The Meadows. I am not happy. Can you you assist me in finding new solicitors?
A lawyer would have to be really bad in order to consider replacing them. Has your mortgage been generated? In the event that it has you must advise them of the new contact details and have the loan are re-issued. Your solicitor ideally should be on the mortgage company panel to avoid added costs and delays. So that should be your starting point. Our search tool will assist you in finding a lender approved conveyancer for your home move in The Meadows
I've recently bought a leasehold property in The Meadows. 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 lessee 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. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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 invested in buying a 1 bedroom flat in The Meadows, conveyancing having been completed in 1998. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in The Meadows with a long lease are worth £192,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease terminates on 21st October 2079
With just 54 years left to run we estimate the premium for your lease extension to range between £32,300 and £37,400 plus legals.
The figure 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 this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.