In the event thatI were to acquire a simple residential housein Burton Joyce for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Burton Joyce?
The only saving you would make on is the disbursement for searches. The conveyancing practitioner is required to do the vast majority of work - money laundering, liaising with your vendors conveyancing practitioner, stamp duty submission, register the ownership etc. You might save a bit for them not needing to register a mortgage but it won't be significant.
Finally the sale completed on my house in Burton Joyce last January but my buyer keeps SMS messaging daily to say her lawyer is waiting to hear from myconveyancer. What should my lawyer have done now that I have sold?
Following your sale your solicitor is committed to deliver the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor should also send confirmation that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There are no post completion tasks specific conveyancing in Burton Joyce.
I am considering refinancing my property in Burton Joyce, does my lawyer have to be on the UBS Solicitor panel?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Me and my brother own a semi-detached Victorian house in Burton Joyce. Conveyancing lawyer acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Burton Joyce and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing lawyer who conducted the conveyancing.
I'm buying a new build house in Burton Joyce with the aid of help to buy. The developers would not reduce the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my lawyer about this deal as it could put at risk my loan with the lender. 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 am looking at a two flats in Burton Joyce both have in the region of forty five years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Burton Joyce. The lease is a right to use the property for a prescribed time frame. As a lease shortens the saleability of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional assistance from a solicitor and surveyor with experience in this arena.
I invested in buying a 2 bed flat in Burton Joyce, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Corresponding properties in Burton Joyce with an extended lease are worth £197,000. The ground rent is £55 yearly. The lease finishes on 21st October 2079
You have 55 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.