The Wootton conveyancing firm handling our Wootton conveyancing has identified a discrepancy when comparing the surveyor’s assumptions in the valuation report and what is in the title deeds. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s approach legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Why do I have to pay up front when it comes to conveyancing in Wootton?
If you are buying a property in Wootton your solicitor will request that you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is payable against the sale price then this will be asked for immediately in advance of contracts are exchanged. The final balance that is needed will be payable a couple of days prior to the day of completion.
Are there restrictive covenants that are commonly identified during conveyancing in Wootton?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Wootton. 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…’
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a quick, no chain conveyancing. Wootton is the location of the property. Can you offer any opinion?
Flying freeholds in Wootton are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wootton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wootton may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How does the Landlord & Tenant Act 1954 affect my commercial property in Wootton and how can you help?
The 1954 Act gives a safeguard to business leaseholders, granting the a statutory right to apply to court for a renewal tenancy and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Wootton
My wife and I purchased a leasehold flat in Wootton. Conveyancing and Virgin Money mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Wootton who previously acted has long since retired. What should I do?
First contact HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. There is no need to instruct a Wootton conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Wootton - Sample of Queries Prior to Purchasing
-
Who are the managing agents? What is the maintenance charge and ground rent on the flat? It would be sensible to discover as much as possible concerning the company managing the block as they will either make your life much easier or uncomfortable. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the cleanliness of the common parts. Ask other tenants what they think of them. On a final note, be sure you understand the dates that you are obliged pay the service charge to the appropriate party and specifically what you get for your money.