The owners have very brash vendors who has suggested a preliminary agreement with a down payment 6,000. Are such agreements sensible?
This kind of contract isn't common in Langstone, conveyancers are often inclined to direct clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the lawyer is left exposed. Furthermore, there is no assurance that just because the vendor has signed a lock out contract they will complete the sale with you. They may be motivated to break the agreement if they are offered sufficient offer to do so because an aggrieved party with the benefit of a exclusivitycontract will still be obliged show losses as a consequence of the breach and these may not amount to the financial benefit that the owner may secure by breaking the agreement, however morally unworthy it undoubtedly is.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Langstone. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 13/7/2024, the requirements read as follows :
It has been five months since my purchase conveyancing in Langstone completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Langstone with a loan from Barnsley Building Society. The builders refused to budge the amount so I negotiated 6k of additionals instead. The property agent advised me not to tell my conveyancer about this deal as it may affect my loan with the bank. 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.
I am on look out for some leasehold conveyancing in Langstone. Before I get started I would like to find out the number of years remaining on the lease.
If the lease is registered - and almost all are in Langstone - 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 own a split level flat in Langstone, conveyancing formalities finalised in 2001. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Langstone with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease runs out on 21st October 2089
With just 65 years left to run we estimate the price of your lease extension to be between £13,300 and £15,400 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.
I am considering choosing an online solicitor ahead of a Langstone conveyancing firm. Any advice?
Advantages do exist in having the option visit a local Langstone conveyancing solicitor for example
- signing papers same day
- having one on one explanations of things you don't understand
- the ability to complain if things are not going as expected
When comparing quotes, look out for hidden extras. The majority decent Langstone high street solicitors give an all-inclusive figure. Often online agents appear to offer cheap prices, but have burried 'extras' in the in the terms and conditions.