We are due to exchange buying a property in Halewood but as a result of damage from the recent storms I have managed to agree recompense from the vendor of six thousand pounds by way of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process but Nottingham will not permit this. Why were they involved?
The solicitor being on a Nottingham approved list is required to disclose to Nottingham of any changes to the purchase price. If you were to refuse your property lawyer to notify the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new conveyancing practitioner for your conveyancing in Halewood.
Our mortgage company has recommended solicitors on their panel based in Halewood but I would rather choose a conveyancing lawyer in Halewood local to me. Are you able to assist?
It is by no means the case that all Halewood conveyancing practitioners are approved and listed on all banks conveyancing panel. Use our find an approved solicitor tool to choose a Halewood conveyancing conveyancer on the on the lender panel.
Me and my brother have a renovated Edwardian property in Halewood. Conveyancing practitioner represented me and Britannia. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Britannia to clarify?
You need to assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Halewood and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing practitioner who conducted the conveyancing.
I'm purchasing a new build house in Halewood with the aid of help to buy. The builders would not reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about the side-deal as it could jeopardize my mortgage with Lloyds TSB Bank. Do I keep my lawyer in the dark?.
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 decided to have a survey carried out on a property in Halewood in advance of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies will refuse to issue a loan on a flying freehold house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Halewood. Conveyancing may be slightly more expensive based on your lender's requirements.
I have recently realised that I have Sixty One years remaining on my lease in Halewood. I now wish to get lease extension but my freeholder is can not be found. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. In some cases an enquiry agent may be helpful to carry out a search and to produce an expert document which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Halewood.
I purchased a studio flat in Halewood, conveyancing formalities finalised in 2000. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Halewood with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2082
With only 56 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.