I am purchasing a new build flat in Canterbury and my solicitor is advising me that she has to the mortgage company to disclose incentives from the seller. I am under pressure to sign contracts and I don't want to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender 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'm buying my first flat in Canterbury with a mortgage from Accord Mortgages Ltd. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my solicitor about the deal as it could affect my mortgage with Accord Mortgages Ltd. 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 carried out on a property in Canterbury in advance of appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some banks will not grant a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. If you e-mail us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Canterbury. Conveyancing may be slightly more expensive based on your lender's requirements.
What is different about your site and alternative web based conveyancing brokers when it comes to conveyancing in Canterbury?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Canterbury. Unlike many estate agents and many comparison sites we do not have referral deals with solicitors. Some agents and online brokers 'recommend' solicitors paying the highest per referral, rather than the best value conveyancing in Canterbury
I need to retain a conveyancing solicitor for some conveyancing in Canterbury. I have chance upon a web site which looks to be the ideal answer If there is a chance to get all this stuff done via web that would be preferable. Do I need to 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?
I own a leasehold flat in Canterbury. Conveyancing and Halifax mortgage are in place. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing solicitor in Canterbury who acted for me is not around. Do I pay?
First contact the Land Registry to be sure that this person is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Canterbury conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Canterbury Conveyancing for Leasehold Flats - A selection of Questions you should ask before buying
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In the main the outlay for major works are not included within service charges, albeit that a few managing agents in Canterbury obliged leasehold owners to contribute towards a reserve fund and this is used to offset against larger works. Its a good idea to find out as much as possible concerning the company managing the block as they will either make life much simpler or a lot more difficult. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily matters such as the cleanliness of the communal areas. Enquire of other people if they are happy with their service. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending that money. Please tell me if there are any major works in the planning that could add a premium to the maintenance fees?