Should lawyers request an advanced payment when it comes to conveyancing in Raynes Park?
If you are buying a property in Raynes Park your lawyer will request that you put them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. When the deposit is payable against the sale price then this should be asked for immediately ahead of exchange of contracts. The final balance that is due will be payable shortly before completion.
I have been told that property searches are a common reason for obstruction in Raynes Park conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Raynes Park.
I am purchasing a new build house in Raynes Park benefiting from help to buy. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not to tell my lawyer about this extras as it may affect my mortgage 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.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Raynes Park is where the house is located. Can you offer any assistance?
Flying freeholds in Raynes Park are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Raynes Park you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Raynes Park may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am using a search engine for the words conveyancing in Raynes Park it brings up numerous property lawyerslocally. With so much choice what is the best way to find the right property lawyer for the sale of my house?
The best method of finding a suitable conveyancer is through a personal recommendation, so seek the opinion of colleagues and family who have acquired a property in Raynes Park or a local estate agent or financial adviser. Costs for conveyancing in Raynes Park vary, so it's sensible to obtain a minimum of four estimates from different conveyancers. Be sure to seek confirmation that the fees are fixed.
Back In 2003, I bought a leasehold flat in Raynes Park. Conveyancing and Coventry Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Raynes Park who acted for me is not around. Any advice?
First make enquiries of HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Raynes Park conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a ground-floor 1950’s flat in Raynes Park. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
Most definitely. We are happy to put you in touch with a Raynes Park conveyancing firm who can help.
An example of a Lease Extension decision for a Raynes Park property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The unexpired term as at the valuation date was 60.43 years.