I am expecting a mortgage offer from Santander. I hope to retain the legal services of a Licensed Conveyancer in Braintree. Does the Santander Solicitor panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am purchasing a new build house in Braintree with the aid of help to buy. The builders refused to budge the amount so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it may affect my loan with Nationwide Building Society. Do I keep my lawyer in the dark?.
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.
I have been on the look out for a flat up to £235,500 and identified one near me in Braintree I like with a park and railway links in the vicinity, the downside is that it only has 61 years on the lease. I can't really find anything else in Braintree in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Am I right to be suspicious about estate agents that I am dealing with are encouraging me to use a web based conveyancing firm rather than a local Braintree conveyancing practice?
As with lots of service providers, often suggestions from relatives can be worth their weight in gold. Nevertheless there are lots of people with a keen interest in a conveyancing deal; estate agents, mortgage brokers and banks might all recommend solicitors to choose. On occasion the lawyers might be known to one of the organisations as being good in their field, but sometimes there may be a financial incentive behind the recommendation. You have the discretion to select your own conveyancer. You need to be aware that most banks specify a panel list of law firms you must use for the lender related work in your home move.
I have recently realised that I have 62 years left on my flat in Braintree. I am keen to get lease extension but my freeholder is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you have made all reasonable attempts to find the landlord. For most situations a specialist should be helpful to carry out a search and to produce a report to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Braintree.
I invested in buying a ground floor flat in Braintree, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Braintree with a long lease are worth £185,000. The ground rent is £65 per annum. The lease expires on 21st October 2083
With just 61 years left to run we estimate the price of your lease extension to be between £18,100 and £20,800 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
Been searching for a property lawyer for leasehold sale conveyancing in Braintree. We are selling, simple no mortgage to redeem, no hurry, no onward chain. Had an estimate from a lawyer for £900 excluding VAT which is a tad expensive considering its so straightforward. Can I pay less for conveyancing in Braintree?
As it’s a sale only, £425 + VAT would be about the lowest for a Braintree solicitor firm.