I have an AIP. The bank mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would prefer to appoint a local conveyancing solicitor in Bowes Park?
Do check but the chances are that appoint one of their panel solicitors should you take up the "fee-free" incentive. Speak to the bank and see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Bowes Park.
Me and my brother purchased a semi-detached Edwardian property in Bowes Park. Conveyancing lawyer represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same property. Is it worth asking Alliance & Leicester to clarify?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bowes Park and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing practitioner who conducted the purchase.
I'm purchasing my first flat in Bowes Park with a loan from Birmingham Midshires. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about the deal as it would put at risk my mortgage with the lender. 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.
My husband and I are novice buyers - had an offer accepted, yet the selling agent advised that the seller will only proceed if we use their preferred solicitors as they want a ‘quick sale’. My instinct tells me that we should use a family conveyancer who is familiar with conveyancing in Bowes Park
We suspect that the owner is not behind this requirement. Should the owner want ‘a quick sale', alienating a motivated buyer is going to damage their objectives. Speak to the vendors direct and make sure they understand (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to appoint your preferred Bowes Park conveyancing lawyers - not the ones that will earn their estate agent a introducer fee or meet his conveyancing figures pre-set by HQ.
I am attracted to a couple of flats in Bowes Park both have about fifty years remaining on the leases. Should I regard a short lease as a deal breaker?
A lease is a right to use the property for a period of time. As a lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Bowes Park conveyancing firm to help?
Most definitely. We can put you in touch with a Bowes Park conveyancing firm who can help.
An example of a Lease Extension decision for a Bowes Park flat is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case affected 1 flat. The unexpired lease term was 81.79 years.
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Bowes Park. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Bowes Park are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Bowes Park in which case you should be shopping around for a Bowes Park conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your solicitor should advise you fully on all the issues.