I am acquiring a property for cash in Boston. I have lived for the previous 15 years in Boston. Conveyancing searches are expensive. Given that I know the road and vicinity very well must I have all the conveyancing searches?
Provided that you do not need a mortgage, then the vast majority of the Boston conveyancing searches are at your discretion. Your lawyer will try and sway you, no-doubt strongly, that you should have searches carried out, but she is duty bound to do this. Do take into account; if you are likely to sell the house in the future, it will likely be be of interest to your prospective purchaser what the searches reveal. There are plenty of instances where properties with day to day issues can still show up unfavourable search results. A good conveyancing solicitor in Boston will provide you some helpful advice here.
Please explain the implications if my solicitor is removed from the Co-operative Solicitor panel ahead of completing my conveyancing in Boston?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have justbecome aware that Action Conveyancing have closed. They conducted my conveyancing in Boston for a purchase of a freehold house 9 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Boston conveyancing specialists.
I'm purchasing my first flat in Boston with the aid of help to buy. The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not reveal to my solicitor about the extras as it will put at risk my mortgage 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.
Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Boston I like with open areas and transport links in the vicinity, the downside is that it only has 61 years on the lease. I can't really find anything else in Boston for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage that many years will likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
As co-executor for the estate of my uncle I am disposing of a house in Monmouth but live in Boston. My solicitor (approximately 235 miles awayrequires that I execute a statutory declaration prior to completion. Can you recommend a conveyancing practitioner in Boston to attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are located in Boston