Do all mortgage companies provide you with an approved list of Knotty Ash conveyancing solicitors? How do you know who is on the Nationwide conveyancing panel?
Knotty Ash conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
I need some expedited conveyancing in Knotty Ash as I have an ultimatum to complete in less than one month. A mortgage is not required. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not obtaining a mortgage you have the choice not to have searches carried out although no conveyancer would recommend that you don't. Drawing on our experience of conveyancing in Knotty Ash the following are examples of issues that can be revealed and therefore affect the marketability of the property: Enforcement Actions, Outstanding Fees, Outstanding Grants, Road Schemes,...
I'm buying my first flat in Knotty Ash benefiting from help to buy. The builders refused to move on the amount so I negotiated 6k of extras instead. The estate agent advised me not disclose to my solicitor about the deal as it may impact my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Knotty Ash is where the house is located. What do you suggest?
Flying freeholds in Knotty Ash are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Knotty Ash you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knotty Ash may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm converting the mortgage on my primary property to a BTL loan with Lloyds TSB Bank and intend to use the remaining equity towards a second property. The neighborhood we are interested in is Knotty Ash. Will your conveyancers be able to act for the two mortgage companies and tie in the two deals?
Do use our comparison tool on this site to be sure that the solicitors are on the relevant lender panels. Assuming that they are your solicitor should be able to connect the two transactions but you should talk with you conveyancer and make apparent your expectations and requirements.
I am a negotiator for a long established estate agent office in Knotty Ash where we have experienced a few flat sales put at risk due to short leases. I have received inconsistent advice from local Knotty Ash conveyancing solicitors. Could you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a split level flat in Knotty Ash, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding flats in Knotty Ash with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease expires on 21st October 2079
You have 53 years unexpired we estimate the premium for your lease extension to span between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.