Just bought a terraced house in New Waltham , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My New Waltham conveyancing solicitor works at snail pace, so I want to be sure that my ownership is registered.
As far as conveyancing in New Waltham registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether there are errors and whether the Land registry communicate with any third persons or bodies. At present approximately three quarters of submission are fully addressed within 12 days but some can be subject to extensive delays. Historically registration takes place once the new owner is living at the premises so an expedited registration is not typically top priority but where it is urgent that the the registration takes place urgently then you or your conveyancer should contact the land registry and explain the circumstances.
I am buying my first flat in New Waltham benefiting from help to buy. The builders would not move on the price so I negotiated £7000 of extras instead. The property agent told me not to tell my solicitor about this deal as it may impact my loan with the lender. 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.
Over the last few months I have been searching for a flat up to £305k and found one close by in New Waltham I like with amenity areas and transport links in the vicinity, however it only has 61 years on the lease. I can't really find anything else in New Waltham in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the shortness of the lease will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I have been recommended by three or four local estate agents in New Waltham to get a quote from a conveyancer on your site. Is there a financial upside for Estate Agents to offer your lawyers ahead of another?
We refuse to offer any commission for sending work our way. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My cousin has urged me to appoint his conveyancers in New Waltham. Do I take his recommendation?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to have recommendations from friends or family who have actually previously instructed the solicitor you're considering.
Developers have recommended to me a conveyancing practitioner and I've received an estimate from them. It's almost three hundred pounds less expensive than my preferred New Waltham conveyancing practitioner. What's the catch?
Builders frequently have panels of conveyancers who are quick and who know the seller’s paperwork and property lawyer. As many developers offer an incentive to select their approved solicitor for this reason, any increased charges can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the conveyancing delayed when they require an exchange in 28 days. The argument for not opting for the suggested property lawyer is that they may prove unwilling to 'push' your interests at the risk of upsetting the housebuilder. Where you have concerns that this may be the situation you should keep with your local New Waltham solicitor.