I have 70 years left on my lease and require a lease extension for my apartment in Barmouth. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 15/4/2021 the requirements read as follows :
Are there restrictive covenants that are commonly identified during conveyancing in Barmouth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Barmouth. 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 am buying a new build house in Barmouth with the aid of help to buy. The developers would not budge the amount so I negotiated 6k of additionals instead. The house builders rep told me not disclose to my conveyancer about this extras as it will adversely affect my mortgage 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.
I opted to have a survey completed on a property in Barmouth ahead of appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some banks may not give a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Barmouth. Conveyancing may be slightly more expensive based on your lender's requirements.
Given that I will soon spend hundreds of thousands of pounds on a two bedroom apartment in Barmouth I wish to talk to a conveyancer about mytransaction prior to appointing the firm. Can this be arranged?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your conveyancing in Barmouth.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Barmouth should be the amount on the final invoice that you are charged.
How much will conveyancing in Barmouth cost?
Almost all Barmouth conveyancing practices will charge a set fee. In the event that additional work arise during the transaction your property lawyer must advise you in writing of any supplemental fees for such work as soon as it becomes apparent. Some work on a no completion no cost basis, others will levy an bill for a proportion of the agreed fee, calculated based on the point at which the conveyancing does not proceed.
It may be helpful for you to seek various practices to provide you an estimate.