I am buying my first flat in Quorn with a loan from Britannia. The builders refused to move on the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not disclose to my lawyer about the extras as it may put at risk my loan with the lender. Should I keep quiet?.
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.
Due to the encouragement of my in-laws I had a survey completed on a property in Quorn ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some lenders tend not issue a loan on this type of house.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Quorn. Conveyancing will be smoother if you use a solicitor in Quorn especially if they are familiar with such properties in Quorn.
How simple is it to switch solicitor as I have to choose one who is on the Norwich and Peterborough Building Society conveyancing panel. I had appointed a local conveyancing solicitor in Quorn round the corner but he is not approved by Norwich and Peterborough Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Quorn on the Norwich and Peterborough Building Society panel. Please note that the law firms that we list do not pay us fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Quorn. In making use of the find a conveyancing solicitor tool on this website, you can contrast charges for conveyancing solicitors in Quorn and beyond.
We are 17 days into a leasehold purchase having been referred to a firm by the local agent to carry out the conveyancing in Quorn. I am not happy. Can you you assist me in finding new lawyers?
They would need to be really bad to suggest diss instructing them. Has your loan offer been issued? In the event that it has you must inform them of the new contact details and get the loan are re-issued. Your conveyancer needs to be on the mortgage company approved list to avoid added fees and frustration. That should be your starting point. The find a solicitor tool will help you find a bank approved solicitor for your conveyancing in Quorn
Due to complete next month on a basement flat in Quorn. Conveyancing solicitors have said that they are sending me a report on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Quorn should include some of the following:
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Alterations to the flat if lease caters for for a slush fund? specifics of the parties to the lease, for instance these could be the leaseholder, superior lessor, freeholder What you can do if a neighbour breaches a clause of their lease? Repair and maintenance of the premises
Leasehold Conveyancing in Quorn - Sample of Questions you should consider before buying
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Where a Quorn lease has fewer than eighty years it will affect the value of the flat. It is worth checking with your lender that they are happy with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you would need to own the premises for two years in order to be eligible to exercise a lease extension. It is important to be aware whether redecorating or some other significant cost is due shortly to be shared between the tenants and may well dramatically impact the level of the maintenance costs or result in a one time payment. Is the freehold reversion owned collectively by the tenants?
Myself and my wife have just had an offer accepted on a flat and had an appointment on Tuesday with the Post Office for the mortgage. They have informed me that when it comes to selecting a conveyancing practitioner that if they are not on their approved list of solicitors then we will be subject to an an extra charge of about two hundred pounds. This is because they will then have to instruct a conveyancer to act for them in addition to the one we choose to act for ourselves and we are liable for their fees. I have requested the Post Office to supply me with a list so I can obtain estimates only from their approved lawyers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
Ask the Post Office what their criteria for panel membership is for a conveyancer.Thereafter ask the conveyancing practitioner of your choice whether they fit that criteria and have they acted on loans for the Post Office in the past. If the answer to those is yes, then just clarify this with the Post Office. Alternatively please use our search tool and we should be able to find you a conveyancer in Quorn on the panel for the Post Office.