We just had an offer accepted to buy with Loughborough BS. I called into a couple of local solicitors yet am unable to find a Overton conveyancing firm on the Loughborough BS panel. Can you assist?
Please do take advantage of the search tool on this site. Pick the building society and type Overton or your location and you will be presented with a number of lawyer located in Overton or by proximity to you.
A friend recommended that where I am buying in Overton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Overton conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Overton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Overton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Overton.
I'm purchasing my first flat in Overton with a loan from Yorkshire Building Society. The developers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not reveal to my solicitor about the side-deal as it may put at risk my loan with Yorkshire Building Society. Is this normal?.
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.
Due to the guidance of my in-laws I had a survey completed on a house in Overton ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks will refuse to give a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you contact us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Overton. Conveyancing may be slightly more expensive based on your lender's requirements.
How simple is it to use your search facility to get a costs illustration from a conveyancing solicitor in Overton on the approved list for my mortgage?
First choose a mortgage company such as Lloyds TSB Bank, Skipton Building Society or Britannia then specify your preferred area a common one being Overton. Conveyancing firms in Overton and across England and Wales should be identified.
I work for a reputable estate agent office in Overton where we have experienced a few leasehold sales put at risk as a result of short leases. I have received conflicting advice from local Overton conveyancing firms. Can you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a garden flat in Overton, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Overton with an extended lease are worth £202,000. The ground rent is £60 charged once a year. The lease expires on 21st October 2080
With just 56 years left to run we estimate the price of your lease extension to span between £29,500 and £34,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should 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.