I am buying a property without a mortgage in Wantage. I have lived for the previous 15 years in Wantage. Conveyancing searches are a lot of money. As I have knowledge of the area and road very well must I have all the conveyancing searches?
If you not getting a home loan, then the vast majority of the Wantage conveyancing searches are at your discretion. Your conveyancer will 'advise', perhaps strongly, that you should have searches completed, but he is duty bound to take that path of encouragement . Do consider; if you are intend to dispose of the house in the future, it will likely be be of importance to your prospective purchaser what the searches reveal. Sometimes premises with day to day issues can still reveal unfavourable search results. A good conveyancing solicitor in Wantage should provide you some sensible advice in this regard.
I just acquired a flat at auction in Wantage. Conveyancing is necessary. What are my next steps?
Now that you are legally bound yourself to purchase you should hire the services of a conveyancing practitioner as a matter of urgency as you are facing a tight deadline in which to complete the transaction. Every auction property will ordinarily have a bespoke auction pack. This will include most,if not all of the paperwork that your conveyancer requires. In the case of leasehold property the legal pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You should hand this to the conveyancer instructed by you as soon as possible. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Nottingham are being problematic. The Wantage solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I've read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Wantage solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Wantage surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Are there restrictive covenants that are commonly identified during conveyancing in Wantage?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Wantage. 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…’
How can the Landlord & Tenant Act 1954 impact my business offices in Wantage and how can your lawyers assist?
The particular law that you refer to affords a safeguard to commercial leaseholders, giving them the right to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Wantage
In relation to leasehold conveyancing in Wantage what are the most common lease defects?
Leasehold conveyancing in Wantage is not unique. Most leases are unique and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Chelsea Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the purchaser to withdraw.
Leasehold Conveyancing in Wantage - A selection of Queries before Purchasing
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How much is the ground rent and service charge? Is there a share of the freehold? The answer will be useful as a) areas could cause problems for the block as the common areas may begin to deteriorate where repairs are not paid for b) if the tenants have a dispute with the managing agents you will need to know about it
How does one as executor remove a deceased person's details from the title deeds for a property in Wantage?
If a Wantage property is jointly owned and one of the proprietors dies, their name will not immediately be removed from the title deeds. You are not required to amend the title as in the event of a disposal you would just need to supply proof as to the reason the joint owner is missing from the contract, such as a grant of probate.
With a view to making things smoother for the sale of the property you can arrange to have the deceased person removed from the title entries by applying to HM Land Registry with evidence of the death. There is no land registry fee payable.