What can a local search reveal concerning the property my wife and I purchasing in Audlem?
Audlem conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company such as Xpress Legal The local search is essential in every Audlem conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I'm purchasing a new build house in Audlem with a mortgage from Birmingham Midshires. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not inform my solicitor about this extras as it will jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
What does commercial conveyancing in Audlem cover?
Audlem conveyancing for business premises incorporates a wide array of services, supplied by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
Last July I purchased a leasehold property in Audlem. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I invested in buying a leasehold flat in Audlem, conveyancing formalities finalised April 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Audlem with an extended lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease terminates on 21st October 2092
You have 68 years left to run the likely cost is going to span between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
Do lenders provide you with an approved list of Audlem solicitors? How do you know who is on the bank conveyancing panel?
Audlem law firm practices and firms carrying out conveyancing in Audlem themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.