My partner and I are buying a new build duplex in Westonzoyland and my conveyancer is informing me that she has to the bank to disclose incentives from the builder. I am on a tight deadline to exchange contracts and I would rather not delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are there restrictive covenants that are commonly identified as part of conveyancing in Westonzoyland?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Westonzoyland. 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…’
About to purchase a new build apartment in Westonzoyland. Conveyancing is necessary evil 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 legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Westonzoyland
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. 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.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Westonzoyland I like with open areas and transport links nearby, however it only has 61 years on the lease. There is not much else in Westonzoyland suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I'm remortgaging my existing property to a BTL mortgage with Santander and I will use the ballance of the raised equity as a down payment on another house. The neighborhood we are looking at is Westonzoyland. Will your conveyancers be able to act for the two mortgage companies and tie in the two deals?
Do use our search tool on this page to be sure that the lawyers are on the relevant lender panels. Having checked that they are the lawyer should be able to simultaneously deal with the two transactions but you should talk with you conveyancer and make clear your desired outcome and requirements.
Is there a reason that Westonzoyland conveyancing charges are more expensive for leasehold and freehold properties?
When acquiring a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control