Please help. My Heathfield lawyer is informing me me that he is legally obliged toapply for Heathfield conveyancing searches becausethe firm are on the Nat Westsolicitor panel. Is my solicitor correct?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Heathfield conveyancing searches.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather appoint a Heathfield based conveyancing firm?
You should check but the the likelihood is that give you one of their panel lawyers if you accept the "fee-free" deal. Speak to the lender and determine if they allow a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Heathfield.
I'm buying a new build house in Heathfield with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not reveal to my solicitor about the deal as it may jeopardize my mortgage with Platform Home Loans Ltd. 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 encouragement of my in-laws I had a survey completed on a property in Heathfield ahead of appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some lenders will not grant a mortgage on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you call us we can look into this further with 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 Heathfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Heathfield to see if the conveyancing will be more expensive.
Can you provide any top tips for leasehold conveyancing in Heathfield with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Heathfield can be avoided if you instruct lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Obtaining a replacement share certificate is often a time consuming process and frustrates many a Heathfield home move. Where a reissued share is needed, you should approach the company officers or managing agents (where relevant) for this sooner rather than later. You may think that you are aware of the number of years left on your lease but you should verify this via your solicitors. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is below 80 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If there is a history of conflict with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unresolved. In the event that you altered the property did you need the Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Heathfield state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord consenting to such works. If you fail to have the approvals in place do not contact the landlord without contacting your conveyancer before hand.
I own a split level flat in Heathfield, conveyancing was carried out March 2004. Can you work out an approximate cost of a lease extension? Similar properties in Heathfield with an extended lease are worth £190,000. The ground rent is £45 per annum. The lease ends on 21st October 2084
With just 62 years remaining on your lease we estimate the premium for your lease extension to be between £17,100 and £19,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.
I'm purchasing a apartment in Heathfield. I have found my conveyancer's company on the Law Society's list, but I can't locate my lawyer's name on the list. Should I be concerned?
Not all staff in the law firm must be listed by the regulator. Provided there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be conducted by unqualified staff.