A colleague pointed out to me me that in buying a property in Yelverton there could be various restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Yelverton which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Yelverton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Yelverton CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
Some major lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I have instructed a Yelverton conveyancer having checked that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham 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 Yelverton 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.
Is it necessary to pay for insurance to address the risk of chancel repairs when acquiring a residence in Yelverton?
Unless a previous purchase of the property took place post 12 October 2013 you can assume that lawyers carrying out conveyancing in Yelverton to remain encouraging a chancel search and or insurance against a claim.
I am purchasing a new build house in Yelverton benefiting from help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not inform my conveyancer about the deal as it would jeopardize my loan with Birmingham Midshires. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Yelverton is where the house is located. What do you suggest?
Flying freeholds in Yelverton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Yelverton you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yelverton may determine 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 premises.
As co-executor for the estate of my grandfather I am disposing of a house in Monmouth but reside in Yelverton. My solicitor (based 300 kilometers awayrequires that I sign a stat dec prior to completion. Can you recommend a conveyancing solicitor in Yelverton who can witness this legal document for me?
strictly speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are Yelverton based
Back In 2002, I bought a leasehold house in Yelverton. Conveyancing and Barclays Direct mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing practitioner in Yelverton who acted for me is not around. Any advice?
First make enquiries of HMLR to make sure that this person is in fact the new freeholder. It is not necessary to incur the fees of a Yelverton conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a leasehold flat in Yelverton, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Yelverton with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2081
With only 55 years left to run we estimate the premium for your lease extension to range between £31,400 and £36,200 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.