My partner and I are in the process of looking at houses in Aldermanbury and I am now considering a potential offer. Is it best to have my solicitor on ‘stand by’? I am planning to take a mortgage with Santander.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are seeking a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.
The formalities of my remortgage has taken place for my property in Aldermanbury. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
After shopping around on the internet I have found a Aldermanbury solicitor having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS 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. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Aldermanbury postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Aldermanbury.
Various internet forums that I have visited warn that are the number one cause of stalling in Aldermanbury conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Aldermanbury.
I am purchasing my first flat in Aldermanbury benefiting from help to buy. The sellers would not reduce the amount so I negotiated £7000 of extras instead. The property agent suggested that I not to tell my conveyancer about the extras as it could impact my loan with the lender. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Aldermanbury is the location of the property. What do you suggest?
Flying freeholds in Aldermanbury are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aldermanbury you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Aldermanbury 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.
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At this site secure a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Aldermanbury. As opposed to estate agents and many comparison sites we do not charge firms a fee if you choose them for your home move in Aldermanbury
I am a negotiator for a busy estate agency in Aldermanbury where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Aldermanbury conveyancing firms. Can you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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.
Following years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Aldermanbury. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Aldermanbury conveyancing firm who can help.
An example of a Lease Extension case for a Aldermanbury property is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The remaining number of years on the lease was 72.39 years.