I do hope you can assist me. My Lytham lawyer is advising me that she is duty bound toconduct Lytham conveyancing searches due to the fact thatthe firm are on the Santanderconveyancing panel. These Lytham searches cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a lender your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Lytham conveyancing searches.
I am purchasing my first flat in Lytham with the aid of help to buy. The developers refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not disclose to my solicitor about the extras as it will affect my loan with Clydesdale. Is this normal?.
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 looking for a flat up to £195,000 and found one round the corner in Lytham I like with a park and transport links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Lytham in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the remaining unexpired lease term will likely be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
I'm converting the mortgage on my existing house to a BTL mortgage with The Mortgage Works and intend to use the remaining equity as a down payment on another house. The area we are interested in is Lytham. Will your conveyancers be able to act for the two mortgage companies and tie in the two deals?
Do use our search tool on this page to ensure that the conveyancers are approved by both mortgage companies. On the basis that they are your lawyer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and specify your desired outcome and requirements.
We're new on the property ladder - agreed a price, yet the estate agent has warned us that the vendor will only move forward if we appoint their chosen lawyers as they are insisting on an ‘expedited deal’. We would rather use a high street conveyancer who is familiar with conveyancing in Lytham
It is highly unlikely the owners are driving this. If they require ‘a quick sale', turning down a genuine buyer is counter productive. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you intend to appoint your preferred Lytham conveyancing firm - as opposed tothe ones that will provide the estate agent a introducer fee or achieve conveyancing targets demanded by corporate headquarters.
There are only Sixty One years left on my flat in Lytham. I now wish to extend my lease but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to prove that you have made all reasonable attempts to find the freeholder. In some cases a specialist may be helpful to try and locate and to produce an expert document which can be used as proof that the landlord can not be located. It is advisable to get professional help from a solicitor both on devolving into the landlord’s absence and the vesting order request to the County Court overseeing Lytham.
I own a 2 bed flat in Lytham, conveyancing formalities finalised 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Lytham with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease comes to an end on 21st October 2083
With 58 years unexpired we estimate the price of your lease extension to span between £23,800 and £27,400 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.