I am buying a brand new apartment in Hedon and my solicitor is advising me that she has to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank 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.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hedon?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Hedon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey done on a house in Hedon before appointing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies tend not give a loan on this type of home.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hedon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Hedon to see if the conveyancing costs will increase in light of this.
Is it simple use the search tool to select a conveyancing practitioner in Hedon on the panel for my mortgage?
First choose a lender such as Lloyds TSB Bank, Norwich and Peterborough Building Society or TSB then specify your location for example Hedon. Conveyancing organisations in Hedon and further afield will then be shown.
Having had my offer accepted I require leasehold conveyancing in Hedon. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in Hedon - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I purchased a split level flat in Hedon, conveyancing was carried out in 2010. How much will my lease extension cost? Similar properties in Hedon with an extended lease are worth £202,000. The ground rent is £60 yearly. The lease expires on 21st October 2082
You have 57 years left to run we estimate the premium for your lease extension to span between £28,500 and £33,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
I need to change lawyers as my Hedon lawyer is not on the mortgage company's approved list of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a conveyancer to start work and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Hedon that you're thinking of instructing.