We are about to exchange contracts for a freehold house in Leighton Buzzard. We have hit a snag. The loan offer with Barclays Direct expires on 27/3/2023 but the owners are insisting on a completion date of 29/3/2023. Is it possible to prolong the mortgage expiry date?
The person best placed to deal with your question is your lawyer who will assess if he or she is better off negotiating with the mortgage broker, seller’s representatives, estate agents or conceivably all parties given the circumstances your house move to date.
I'm purchasing my first flat in Leighton Buzzard with the aid of help to buy. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my solicitor about this deal as it may affect my loan with the 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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Leighton Buzzard is where the house is located. What do you suggest?
Flying freeholds in Leighton Buzzard are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leighton Buzzard you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leighton Buzzard 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 residence.
How do I locate a Leighton Buzzard solicitor on the Platform Home Loans Ltd conveyancing panel? I am a keen cyclist and am willing to travel upto 25miles to meet the solicitor.
You can use the tool on this website. Please select a bank and your location and you will see a number of Leighton Buzzard conveyancing lawyers based on proximity. We have listed some Leighton Buzzard conveyancing firms towards the end of this page and you can call them to see if they are on the Platform Home Loans Ltd member panel
I work for a busy estate agent office in Leighton Buzzard where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received conflicting advice from local Leighton Buzzard conveyancing firms. Can you clarify whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done 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 purchaser.
Leighton Buzzard Leasehold Conveyancing - Examples of Queries before buying
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Is there a share of the freehold? Most Leighton Buzzard leasehold apartments will incur a service bill for maintenance of the building set on behalf of the management company. Where you acquire the apartment you will have to meet this contribution, usually in instalments during the year. This can be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge for you to pay yearly, normally this is not a exorbitant sum, say approximately £25-£75 but you need to enquire as on occasion it can be many hundreds of pounds. What prohibitions exist in the Leighton Buzzard Lease?
What are my options where I am dissatisfied with the conveyancing practitioner who conducted our conveyancing in Leighton Buzzard?
Occasionally the level of service you receive is not as you expect, and unfortunately occasionally things do go wrong. That being said there is recourse where you were unhappy with your conveyancing in Leighton Buzzard. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their governing body. If you remain aggrieved you may consider getting in touch with the Legal Ombudsman.