Is there a reason why leasehold purchase conveyancing in Alexandra Park is more expensive?
Alexandra Park leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
After looking at consumer advice sites for a cheap lawyer in Alexandra Park, many say that I must use a CQS kitemarked solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in the legal transfer of properties, trusted by some of the UK's major lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Society for Licensed Conveyancers. Alexandra Park is one of the many areas of the UK where there are Accredited solicitors.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Alexandra Park?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Alexandra Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing my first flat in Alexandra Park with a loan from Nationwide Building Society. The developers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not to tell my conveyancer about this extras as it may affect my loan with the bank. Is this normal?.
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.
How do I use the search app to select a conveyancing practitioner in Alexandra Park on the approved list for my mortgage?
First select a lender such as Yorkshire Building Society, Coventry Building Society or Aldermore then specify your location for instance Alexandra Park. Conveyancing organisations in Alexandra Park and further afield should be listed.
We have appointed a Alexandra Park conveyancing solicitor for our home move (novice purchasers) and have spotted in the terms and conditions that they are not covered by the FCA. Need I be worried or is that the norm with property lawyer?
We can't see why they should be. Most conveyancer don't lend money. They should be regulated by the Solicitors Regulation Authority, who have strict laws in place on monies deposited by them.