I am buying a house without a mortgage in Wootton. I have resided for the previous twelve years in Wootton. Conveyancing searches are a lot of money. Given that I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a mortgage, then almost all of the Wootton conveyancing searches are optional. Your lawyer will ’encourage you, perhaps strongly, that you should have searches completed, but she has a professional duty to take that path of advice. One thing to bear in mind; if you are going to sell the house in the future, it could be of relevance to your future purchaser what the searches disclose. On occasion premises with functional issues can still reveal negative search results. A good conveyancing solicitor in Wootton should be able to give you some helpful guidance in this regard.
It is is a decade since I acquired my house in Wootton. Conveyancing solicitors have recently been retained on the sale but I can't locate my title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be retained by the mortgage company or they may be in the possession of the lawyers who oversaw the purchase. Secondly in most cases the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Wootton involves registered property but in the rare situation where your property is not registered it is more of a problem but is resolvable.
Are there restrictive covenants that are commonly picked up during conveyancing in Wootton?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing 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…’
About to purchase a new build flat in Wootton. Conveyancing is a frightening process 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 is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Wootton
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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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the advice of my in-laws I had a survey completed on a house in Wootton in advance of appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend not issue a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wootton. Conveyancing may be slightly more expensive based on your lender's requirements.
I am in need of some leasehold conveyancing in Wootton. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Wootton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a studio flat in Wootton, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Wootton with an extended lease are worth £179,000. The ground rent is £65 per annum. The lease ceases on 21st October 2082
You have 57 years remaining on your lease we estimate the price of your lease extension to span between £26,600 and £30,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.