I am buying a leasehold flat in Lifton. My lawyer is not listed on the lender conveyancing panel. Am I still permitted to appoint my Lifton conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
Various options include
- Proceed with your existing Lifton lawyer but your bank will need to use a conveyancer on their approved list. This will result in additional charges together with likely delay.
- Appoint a fresh conveyancer to act in the purchase, obviously checking they are on the mortgage company conveyancing panel.
- Appeal to your conveyancer to seek to join the bank panel
I am purchasing my first flat in Lifton benefiting from help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not inform my conveyancer about the deal as it may affect my mortgage with the bank. Is this normal?.
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.
I'm refinancing my primary property to a buy to let loan with Nottingham Building Society and intend to use the remaining equity as a down payment on further house. The neighborhood we are interested in is Lifton. Will your solicitors be able to act for the two mortgage companies and link together the transactions?
Make use of our comparison tool on this site to check that the solicitors are approved by both banks. Having checked that they are the lawyer will be able to tie up the two transactions but you should talk with you solicitor and specify your expectations and needs.
I need to find a conveyancing solicitor for leasehold conveyancing in Lifton. I've chance upon a site which appears to be the ideal offering If there is a chance to get all the legals completed via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am hoping to exchange soon on a basement flat in Lifton. Conveyancing lawyers inform me that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in Lifton should include some of the following:
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Ground rent - what is payable and when you need to pay, and be on notice if this is subject to change Whether the lease restricts you from renting out the property, or working from home if lease has a provision for a slush fund? Advice concerning the obligations as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a tenant has The physical extent of the property. This might be the apartment itself but could also incorporate a loft or cellar if applicable.
I bought a basement flat in Lifton, conveyancing was carried out in 2008. Can you work out an approximate cost of a lease extension? Equivalent flats in Lifton with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease finishes on 21st October 2089
With just 64 years unexpired we estimate the premium for your lease extension to be between £15,200 and £17,600 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional 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 placing reliance on this information before seeking the advice of a professional.
Some months ago I was informed by my bank that their approved lawyers operate no completion no charge basis for conveyancing in Lifton. Our purchase did not proceed and now the lawyers have requested search fees! They are stating that the fees are nothing to do with their fees!
By promising "no move no fee" Lifton conveyancing practices are writing off their charges for any work conducted. We should make it clear that this is NOT an insurance scheme. Disbursements aren’t covered – where the lawyer have to pay money out to other people, for example Lifton local search fees