I am acquiring a new build apartment in Camberley and my solicitor is informing me that she is duty bound to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I happen to be the sole beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Camberley. Conveyancing formalities meant that the Land Registry date was in January. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership may be regarded the same way as if I'd bought the property in January. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How sensible a view mortgage companies take of it, depend on the bank as this requirement is principally there to identify subsales or the wholesaling and assigning of properties.
Can I be sure that the Camberley conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Camberley getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your conveyancing.
I have instructed a Camberley solicitor having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Camberley surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Just had an offer accepted on a new build apartment in Camberley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Camberley
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I have been on the look out for a ground for flat up to £245,000 and found one close by in Camberley I like with amenity areas and railway links nearby, however it's only got 51 years unexpired on the lease. I can't really find anything else in Camberley in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
How simple is it to change firm as I need to choose one who is on the Clydesdale conveyancing panel. I was using a high street conveyancing solicitor in Camberley five minutes from me but she is not accepted by Clydesdale
We will our best to assist in finding you a conveyancing solicitor in Camberley on the Clydesdale panel. Please note that the solicitors that we work with do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Camberley. In utilising search facility on this website, you can scrutinise costs for conveyancing solicitors in Camberley and beyond.
I am intending to rent out my leasehold apartment in Camberley. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Even though your last Camberley conveyancing lawyer is not available you can review your lease to check if you are permitted to let out the property. The accepted inference is that if the lease is silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent from your landlord or some other party before subletting. This means you not allowed to sublet without prior consent. The consent should not be unreasonably refused ore delayed. If the lease prohibits you from subletting the property you will need to ask your landlord for their consent.
Leasehold Conveyancing in Camberley - Sample of Questions you should ask Prior to buying
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How is the lease structured? This question is important as a) areas may cause problems in the building as the communal areas may begin to deteriorate where services are not paid for b) if the tenants have a dispute with the running of the building you will need to have complete disclosure Does the lease include onerous restrictions?