How up to date is your database of Totterdown solicitors on the UBS conveyancing panel? Do UBS send you an updated list?
Totterdown conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
I have been told that property searches are the main cause of delay in Totterdown house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Totterdown.
About to purchase a new build flat in Totterdown. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Totterdown
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.
I opted to have a survey done on a property in Totterdown in advance of appointing solicitors. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies may not give a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Totterdown. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Totterdown to see if the conveyancing costs will increase in light of this.
How straightforward is it to use your search tool to locate a conveyancing solicitor in Totterdown on the approved list for my lender?
First select a mortgage company such as Birmingham Midshires, The Mortgage Works or Barclays Direct then choose your preferred area a common one being Totterdown. Conveyancing organisations in Totterdown and beyond will then be identified.
Planning to sign contracts shortly on a garden flat in Totterdown. Conveyancing solicitors have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Totterdown should include some of the following:
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You should know whether the lease permits you to add or upgrade anything in the property- you should know whether any restrictions applies to all alterations or limited to structural alteration, and whether licences for alterations is mandated necessary The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Repair and maintenance of the property You should be told what counts as a Nuisance in the lease
I inherited a 1 bedroom flat in Totterdown, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Totterdown with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2084
With only 59 years left to run we estimate the price of your lease extension to be between £20,900 and £24,200 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.