I am in a contract race with another prospective purchaser for a property in Mawsley. What can I do to expedite matters?
In a situation where you are under time constraints for your conveyancing it is advisable to make sure that your lawyer is familiar with the area as they will have local connections and knowledge. It is even conceivable that they would have conducted previousproperties in the same road. You would be best advised to use a Mawsley conveyancing solicitor. Second, check that the conveyancing firm is on the lender panel. It is said that nearly one in five of Mawsley conveyancing transactions are suspended or derailed after finding out that a purchaser’s conveyancer was not on their banks list of approved solicitors. In many cases this discovery resulted in the legal transfer of property being frustrated by an average of three weeks. It is believed that this issue affects approximately 100,000 home moves annually. Many Mawsley conveyancing firms can not act for certain banks so do check as early as possible.
My colleague recommended that where I am purchasing in Mawsley I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Mawsley conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Mawsley 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 type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Mawsley.
I am purchasing my first flat in Mawsley with a loan from Skipton Building Society. The builders refused to move on the amount so I negotiated £7000 of extras instead. The sale representative told me not to tell my lawyer about the extras as it could impact my loan with the lender. 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.
As co-executor for the will of my grandfather I am selling a residence in Neath but reside in Mawsley. My solicitor (based 250 kilometers awayrequires that I execute a stat dec ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Mawsley who can witness this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are based in Mawsley
What are your top tips when it comes to finding a Mawsley conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Mawsley conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of work. We recommend that you speak with two or three firms including non Mawsley conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
Can they put you in touch with clients in Mawsley who can give a testimonial? How experienced is the practice with lease extension legislation?
I invested in buying a 1st floor flat in Mawsley, conveyancing having been completed July 2011. 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? Comparable properties in Mawsley with an extended lease are worth £207,000. The average or mid-range amount of ground rent is £60 invoiced annually. The lease runs out on 21st October 2080
With 57 years remaining on your lease we estimate the price of your lease extension to be between £28,500 and £33,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Mawsley. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Mawsley ?
The majority of houses in Mawsley are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Mawsley so you should seriously consider looking for a Mawsley conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will report to you on the legal implications.