I have a decision in principle. The bank mentioned the loan came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather appoint a Chase Cross based conveyancing firm?
Do check but the chances are that allocate you one of their panel lawyers if you accept the "fee-free" deal. Speak to the lender and see if they make available a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Chase Cross.
I require expedited conveyancing in Chase Cross as I am faced with pressure to exchange contracts in less than 4 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to have searches conducted although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Chase Cross the following are examples of issues that can arise and adversely affect future mortgageability: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
I am buying a new build house in Chase Cross with a mortgage from Skipton Building Society. The sellers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about this side-deal as it will impact my loan with the lender. Is this normal?.
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 ground for flat up to £235,500 and identified one round the corner in Chase Cross I like with open areas and transport links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Chase Cross for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
Back In 2005, I bought a leasehold house in Chase Cross. Conveyancing and Coventry Building Society mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing solicitor in Chase Cross who acted for me is not around. Any advice?
First contact HMLR to make sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Chase Cross conveyancing practitioner to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have had difficulty in trying to purchase the freehold in Chase Cross. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Chase Cross conveyancing firm who can help.
An example of a Lease Extension decision for a Chase Cross property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired residue of the current lease was 57.5 years.
New build sellers have put forward a lawyer and I've received an estimate from them. It's nearly £250 cheaper than my preferred Chase Cross conveyancer. What's the catch?
Housebuilders normally have panels of property lawyers who expedite matters and who know the seller’s contract and property lawyer. As many developers offer an inducement to select a preferred conveyancing practitioner for this reason, any increased charges can be avoided and a developer will not recommend a conveyancing warehouse and run the risk of having the conveyancing delayed when they require an exchange within a tight deadline. A counter-argument for not opting for the recommended solicitor is that they may prove hesitant to fight for your interests for fear of upsetting the sellers. Where you have concerns that this may be the case you should remain with your high street Chase Cross lawyer.