I'm purchasing my first flat in Ranmoor benefiting from help to buy. The developers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not reveal to my solicitor about this extras as it may affect my mortgage with The Royal Bank of Scotland. Should I keep quiet?.
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 have been on the look out for a ground for flat up to £235,500 and found one close by in Ranmoor I like with open areas and railway links nearby, however it's only got 61 years on the lease. There is not much else in Ranmoor in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I have been advised by a number of estate agents in Ranmoor to get a quote from a conveyancer using your seach tool. What’s the financial upside for Estate Agents to offer your site over and above a competitor’s?
We refuse to give any commission for sending work to this site. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Am I better off to go with a Ranmoor conveyancing practitioner in close proximity to the house I am buying? I have an old university friend who can handle the legal work however they are based approximately 350miles away.
The primary upside of using a high street Ranmoor conveyancing firm is that you can pop in to execute documents, hand in your ID and pester them if necessary. Having local Ranmoor know how is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were content that should trump using an unknown Ranmoor conveyancing solicitor solely due to them being local.
Can you offer any advice when it comes to choosing a Ranmoor conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Ranmoor conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We advise that you make enquires with two or three firms including non Ranmoor conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
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What volume of lease extensions has the firm completed in Ranmoor in the last year? Can they put you in touch with clients in Ranmoor who can give a testimonial?
Leasehold Conveyancing in Ranmoor - A selection of Queries before buying
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Most Ranmoor leasehold apartments will have a service charge for the upkeep of the block set on behalf of the freeholder. Where you purchase the apartment you will have to meet this charge, usually in instalments during the year. This may be anything from a few hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent to be met yearly, ordinarily this is not a exorbitant amount, say approximately £25-£75 but you should to enquire it because occasionally it could be many hundreds of pounds. The answer will be helpful as a) areas could result in problems for the building as the communal areas may begin to deteriorate where services remain unpaid b) if the leaseholders have a dispute with the running of the building you will need to have full disclosure How many of the leaseholders are in arrears for their maintenance charge payments?
Been searching for a solicitor for leasehold sale conveyancing in Ranmoor. I'm selling, uncomplicated no mortgage to discharge, no hurry, currently empty. Had an estimate from a property lawyer for £900 including VAT which is a little expensive given that its so straightforward. Is it possible to find less expensive fees for conveyancing in Ranmoor?
Given that it’s a sale only, £425 + VAT is likely to be about the lowest for sale conveyancing in Ranmoor.