Me and my husband are buying an apartment in Alresford. My property lawyer is not on the mortgage company approved panel. Is it possible for me to use my Alresford conveyancing solicitor notwithstanding that they are not on the mortgage company list of approved lawyers?
Your options include
- Carry on with your chosen Alresford conveyancing practitioner but your lender will undoubtedly appoint a property lawyer on their approved list. The net result is additional cost and potential frustration.
- Choose a new lawyer to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Appeal to your conveyancer to seek to join the bank panel
I am under pressure from the owner of a property in Alresford to exchange within four weeks. What can I do to speed up the buying process?
In a situation where the seller is applying a tight deadline to sign contracts it is advisable to make sure that your solicitor is familiar with the area as they will benefit local relationships and insight. It is even conceivable that they could have transacted otherproperties in the same street. Therefore consider using a Alresford conveyancing lawyer. Second, be sure that the lawyer is on the member panel. It is said that 18% of Alresford conveyancing deals are suspended or jeopardised after discovering a purchaser’s solicitor was not on their banks list of approved solicitors. In many cases this discovery resulted in the home move being held up by almost 21 days. It is claimed that this issue affects in the region of 100,000 home sales annually. Most Alresford conveyancing firms can not represent certain lenders so do check as early as possible.
I am purchasing my first flat in Alresford with a loan from Lloyds TSB Bank. The builders refused to reduce the amount so I negotiated 6k of extras instead. The house builders rep advised me not disclose to my lawyer about the side-deal as it would affect my mortgage with the bank. 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.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Alresford I like with open areas and station in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in Alresford for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I need to appoint a conveyancing solicitor for sale conveyancing in Alresford. I've discover a site which appears to be the ideal answer If there is a chance to get all the legals done via web that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having had my offer accepted I require leasehold conveyancing in Alresford. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Alresford - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Alresford - A selection of Questions you should consider before buying
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The prefered form of lease structure is a share of the freehold. In this situation the lessees enjoy control and even though a managing agent is usually employed where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Its a good idea to discover as much as you can regarding the company managing the building as they will either make life much easier or uncomfortable. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to practical matters like the tidiness of the common parts. Enquire of other people what they think of them. Finally, be sure you know the dates that the maintenance fees are due to the managing agents and specifically how they are spending that money. It is important to be aware if redecorating or some other major work is due in the near future to be shared between the leasehold owners and could well dramatically increase the the maintenance costs or necessitate a specific payment.