I am considering applying for a TSB mortgage for purchase of a new build (under development) in Woodbury with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
There is nothing to stop you using your solicitor, but TSB will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My colleague recommended that if I am buying in Woodbury I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Woodbury conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Woodbury around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Woodbury 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 maps and statistics, Local Amenities and other useful information regarding Woodbury.
Are there restrictive covenants that are commonly identified as part of conveyancing in Woodbury?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Woodbury. 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 flat in Woodbury. 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.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Woodbury
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
What are your top tips when it comes to appointing a Woodbury conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for your lease extension (regardless if they are a Woodbury conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Woodbury conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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If they are not ALEP accredited then why not? How familiar is the firm with lease extension legislation?
Woodbury Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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The prefered form of lease structure is a share of the freehold. In this situation the tenants have being in charge if their destiny and even though a managing agent is frequently retained if it is bigger than a house conversion, the managing agent is directed by the tenants. Where a Woodbury lease has fewer than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will probably require a lease extension sooner rather than later and you need to have some idea of how much this would cost. For most Woodburylease extensions you would be be obliged to have been the owner of the premises for two years in order to be entitled to carry out a lease extension. For most Woodbury leaseholds the cost for major works tend not to be wrapped into the service charges, although a few managing agents in Woodbury obliged leaseholders to contribute towards a reserve fund created for the specific intention of building a fund for larger repairs or maintenance.
I am an executor of my recently deceased mum’s Will, with a house in Woodbury which is to be sold. The house is unregistered at the Land Registry and I'm told that some purchasers will insist that it is in place before they will move forward. What's the procedure for this?
In the circumstances that you have set out it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.