I am acquiring a property mortgage free in Valley. I have resided for the previous dozen years in Valley. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then the vast majority of the Valley conveyancing searches are at your discretion. Your solicitor will 'advise', perhaps strongly, that you should have searches completed, but he is duty bound to do this. Do consider; if you are intend to dispose of the house at a future date, it will be of relevance to your future purchaser what the searches determine. On occasion premises with functional issues can still reveal unexpected search results. A competent conveyancing solicitor in Valley should provide you some sensible advice here.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Valley. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 4/5/2025, the requirements read as follows :
A colleague suggested that if I am buying in Valley I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Valley conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Valley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Valley Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Valley.
The estate agent has sent us the confirmation of our purchase of a new build flat in Valley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Valley
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
What does commercial conveyancing in Valley cover?
Valley conveyancing for business premises incorporates a wide range of services, provided by regulated solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Do you have any top tips for leasehold conveyancing in Valley with the purpose of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Valley can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold documentation needed by the buyers’ solicitors. If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over as opposed to unsettled. If you hold a share in a the freehold, you should ensure that you have the original share document. Arranging a new share certificate can be a lengthy formality and frustrates many a Valley conveyancing deal. If a reissued share certificate is needed, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity. A minority of Valley leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
I own a split level flat in Valley, conveyancing having been completed September 2012. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Valley with a long lease are worth £201,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2090
With 65 years left to run we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.