My partner and I are acquiring our first house. The conveyancer has texted usto see if we wish to order additional conveyancing searches. Frankly we have no idea as to what's needed for conveyancing in Marks Gate
The range of Marks Gate conveyancing searches depends entirely on the premises, the location, the probability of any of these risks, your familiarity of the locality and risks, your general appetite to risk. What is important is that you adequately comprehend what information each search could supply. Then you can decide if you consider that you need that search. Where you are unclear, ask the conveyancer to explain.
I have been recommended a conveyancing solicitor in Marks Gate. I need to find out whether they are on the Nottingham Building Society conveyancing panel. Could you advise?
The first thing to do is call the lawyer and ask them if they are on the lender panel. Alternatively you should call Nottingham Building Society who may be able to assist.
My colleague advised me that if I am purchasing in Marks Gate I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Marks Gate conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Marks Gate around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Marks Gate Education with maps and statistics, Local Amenities and other useful data concerning Marks Gate.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Marks Gate?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Marks Gate. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Marks Gate with a loan from Bank of Scotland. The sellers would not reduce the price so I negotiated 6k of extras instead. The sale representative suggested that I not inform my solicitor about the side-deal as it would put at risk 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and identified one round the corner in Marks Gate I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 years on the lease. I can't really find anything else in Marks Gate for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.