The Burnham Market conveyancing lawyers that just started acting on my purchase in Burnham Market have without warning closed. I chose them because I needed a solicitor on the TSB conveyancing panel and my family Burnham Market lawyer was not. I issued them a cheque for two hundred pounds in advance. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
I'm buying a new build house in Burnham Market with the aid of help to buy. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not disclose to my conveyancer about this side-deal as it would 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 Burnham Market before instructing solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor advised that some banks tend refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Burnham Market. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for some conveyancing in Burnham Market. I happened to stumble across a web site which looks to be the perfect solution If it is possible to get all the legals done via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you offer any advice when it comes to choosing a Burnham Market conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Burnham Market conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Burnham Market conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
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How familiar is the firm with lease extension legislation? If they are not ALEP accredited then why not?
I inherited a 1 bedroom flat in Burnham Market, conveyancing was carried out 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Burnham Market with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease terminates on 21st October 2084
With only 59 years left to run we estimate the premium for your lease extension to span between £20,900 and £24,200 plus professional fees.
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 tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
The conveyancing solicitors conducting our conveyancing in Burnham Market has forwarded documents to review that show the property is unregistered with epitome documents. How can it be that the property not registred at HM Land Regsitry?
It is a rare occurrence indeed to find premises in Burnham Market to be unregistered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Burnham Market conveyancing lawyers should be capable of dealing with this type of conveyancing but in the event that uncertainty prevails the prevailing advice these days seems to be for the seller to register it first and subsequently sell - this will have a domino effect to result in a significant delay.