Finally, a mortgage offer from Nationwide for the refinancing of my 3 bedroom flat is expected by the end of next week. Can you put forward a low cost conveyancing solicitor in Lickey End?
You are on the wrong site if you are in need of a cheap conveyancing in Lickey End. We can offer you value for money conveyancing but we do not work with the cheapest lawyers. Avoid the trap of appointing organisations offering the bait of low cost conveyancing in Lickey End. In your best case scenario, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst you will end up paying a lot in extras and still not end up with the service expected.
We are buying our first home. The property lawyer has e-mailedto see if we would like to purchase supplemental conveyancing searches. Frankly we in the dark as to what's relevant for conveyancing in Lickey End
The extent of Lickey End conveyancing searches should be dictated entirely on the premises, the location, the probability of any of these risks, your knowledge of the area and risks, your overall attitude to risk. What matters is that you adequately appreciate what information the searches could supply. You may then make a decision if you personally think you need that information. If in doubt, ask your conveyancer to offer guidance.
I am purchasing my first flat in Lickey End benefiting from help to buy. The sellers would not reduce the amount so I negotiated 6k of extras instead. The estate agent suggested that I not disclose to my conveyancer about this deal as it could impact my mortgage with the lender. 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've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Lickey End is where the house is located. What do you suggest?
Flying freeholds in Lickey End are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lickey End you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lickey End 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 property.
My husband and I are first time buyers - agreed a price, yet the agent advised that the owners will only go ahead if we use the agent's chosen conveyancers as they want an ‘expedited deal’. We would rather use a local solicitor with experience of conveyancing in Lickey End
It is unlikely the vendors are behind this. Should the seller desire ‘a quick sale', alienating a motivated buyer is likely to cause more damage than good. Try to communicate with the owners directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you are going to instruct your preferred Lickey End conveyancing firm - not the ones that will earn the estate agent a kickback or hit his conveyancing thresholds set by corporate headquarters.
I am attracted to a two flats in Lickey End both have about 50 years unexpired on the leases. Will this present a problem?
There is no doubt about it. A leasehold flat in Lickey End is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Lickey End conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a garden flat in Lickey End, conveyancing formalities finalised January 2001. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Lickey End with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease ceases on 21st October 2078
You have 53 years left to run we estimate the price of your lease extension to span between £27,600 and £31,800 as well as legals.
The suggested premium range above 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 may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.