Why is leasehold purchase conveyancing in Chessington costs more?
The conveyancing costs on a leasehold property in Chessington is inevitably higher as compared to a freehold property. This is because there is an amount of supplemental investigations required in corresponding with the landlord and management company to obtain evidence about whether the rent and maintenance fee have been discharged and whether there are any major works due in the near future on repairs or maintenance of the building.
Various internet forums that I have visited warn that are a common cause of obstruction in Chessington house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Chessington.
I am buying my first flat in Chessington with the aid of help to buy. The builders would not budge the price so I negotiated £7000 of extras instead. The sale representative advised me not disclose to my solicitor about this side-deal as it could affect my mortgage with Aldermore. Should I keep quiet?.
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.
Due to the advice of my in-laws I had a survey completed on a property in Chessington before retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some banks tend not give a mortgage on such a home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chessington. Conveyancing may be slightly more expensive based on your lender's requirements.
What makes your site different to other internet conveyancing brokers for conveyancing in Chessington?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Chessington. Unlike many estate agents and brokerage sites we do not operate referral deals with solicitors. Some agents and online brokers 'recommend' the firm paying the highest per referral, as opposed to the best value conveyancing in Chessington
I've recently bought a leasehold flat in Chessington. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a ground flat in Chessington. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Most definitely. We can put you in touch with a Chessington conveyancing firm who can help.
An example of a Lease Extension decision for a Chessington premises is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.