I am purchasing a new build flat in Rednal. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Rednal you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Rednal.
I'm buying a new build house in Rednal benefiting from help to buy. The sellers refused to move on the price so I negotiated 6k of additionals instead. The house builders rep advised me not inform my solicitor about this deal as it will impact my loan with Santander. 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.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one close by in Rednal I like with a park and station nearby, however it's only got 61 remaining years left on the lease. There is not much else in Rednal for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan that many years will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities 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 lawyer regarding this matter.
In what way can the Landlord & Tenant Act 1954 impact my business property in Rednal and how can your lawyers assist?
The 1954 Act affords security of tenure to business tenants, granting the right to make a request to court for a renewal lease and remain in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Rednal
In my capacity as executor for the will of my grandmother I am disposing of a house in Swansea but reside in Rednal. My lawyer (who is 200 miles from mehas requested that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in Rednal who can witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are based in Rednal
Can you provide any top tips for leasehold conveyancing in Rednal from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Rednal can be reduced if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the buyers’ representatives. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a re-issued share certificate is often a time consuming process and delays many a Rednal conveyancing deal. If a reissued share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Rednal state that internal structural changes or addition of wooden flooring require a licence from the Landlord consenting to such alterations. Should you dont have the approvals to hand do not contact the landlord without contacting your conveyancer in advance. Some Rednal leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers.
I am the registered owner of a 2 bed flat in Rednal, conveyancing formalities finalised February 2003. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Rednal with an extended lease are worth £186,000. The average or mid-range amount of ground rent is £55 levied per year. The lease comes to an end on 21st October 2078
With 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.