I am expecting a mortgage offer from Santander. I would like to instruct a Licensed Conveyancer in Nayland. Does the Santander Solicitor panel include Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We are planning to acquire a property and need a conveyancing solicitor in Nayland who is on the Principality conveyancing panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality . We don't recommend any particular firms conducting conveyancing in Nayland.
I am buying my first flat in Nayland with a loan from Virgin Money. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not reveal to my lawyer about the deal as it will adversely 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 decided to have a survey done on a property in Nayland before retaining lawyers. I have been told that there is a flying freehold element to the property. The surveyor advised that some banks may not issue a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you e-mail us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Nayland. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Nayland to see if the conveyancing will be more expensive.
In my capacity as executor for the will of my grandmother I am selling a residence in Cardiff but reside in Nayland. My conveyancer (approximately 200 miles from merequires that I sign a statutory declaration before completion. Could you suggest a conveyancing lawyer in Nayland who can attest this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Nayland based
I am tempted by the attractive purchase price for a couple of flats in Nayland which have in the region of 50 years remaining on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Nayland is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Nayland conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Nayland Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to buying
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The answer will be useful as a) areas could cause problems in the block as the communal areas may start to deteriorate if services are not paid for b) if the leasehold owners have an issue with the running of the building you will wish to know about it The prefered form of lease structure is where the freehold title is in the ownership of the leaseholders. In this scenario the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is usually employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Who manages the block?