We are buying a newly built flat in Little Burstead and my solicitor is telling me that she has to the mortgage company to disclose incentives from the developer. I am under pressure to exchange contracts and my preference is not to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Little Burstead. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 25/2/2021, the requirements read as follows :
I have been told that property searches are the main reason for obstruction in Little Burstead house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Little Burstead.
What makes your site different to alternative online quote calculators for conveyancing in Little Burstead?
At this site receive an accurate costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Little Burstead. Unlike many estate agents and many comparison sites we do not charge firms a commission if you appoint them for your property ownership legalities in Little Burstead
I am looking for a conveyancing practitioner in Little Burstead for my purchase. Can I see a solicitor's complaints history with the profession’s regulator?
You can find documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training purposes.
Last October I purchased a leasehold flat in Little Burstead. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in Little Burstead, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Little Burstead with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2097
With just 76 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.