What will a local search tell me about the house I am purchasing in Anstey?
Anstey conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company for instance PSG The local search is essential in every Anstey conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I am buying my first flat in Anstey with a mortgage from Birmingham Midshires. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not inform my solicitor about the deal as it will impact my mortgage with the bank. 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Anstey is where the house is located. Can you shed any light on this issue?
Flying freeholds in Anstey are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Anstey you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Anstey 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 property.
I'm converting the mortgage on my current property to a BTL loan with TSB and intend to use the remaining equity as a deposit on a second property. The neighborhood we are looking at is Anstey. Will your lawyers be able to act for the two banks and tie in the two deals?
Do use our search tool on this page to ensure that the conveyancers are approved by both mortgage companies. Having checked that they are the conveyancer will be able to simultaneously deal with the two deals but you should talk with you solicitor and specify your expectations and needs.
My father has encouraged me to appoint his conveyancing solicitors in Anstey. Should I use them?
Much as we are happy to recommend a Anstey conveyancing lawyer the ideal way to find a conveyancing lawyer is to seek feedback from friends or relatives who have used the solicitor that you are are thinking of instructing.
I work for a reputable estate agency in Anstey where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Anstey conveyancing solicitors. Please can you clarify whether the owner of a flat can start the lease extension process 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. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 inherited a leasehold flat in Anstey, conveyancing was carried out 10 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Anstey with an extended lease are worth £191,000. The ground rent is £55 per annum. The lease expires on 21st October 2077
You have 54 years remaining on your lease the likely cost is going to span between £31,400 and £36,200 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.