We are selling our house in St Paul's Cray. Will my solicitor have to be on the Lloyds conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
I am buying my first flat in St Paul's Cray with the aid of help to buy. The builders would not budge the amount so I negotiated 6k of extras instead. The estate agent suggested that I not to tell my lawyer about this side-deal as it will 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 ground for flat up to £305k and found one close by in St Paul's Cray I like with open areas and railway links nearby, however it only has 52 years on the lease. There is not much else in St Paul's Cray for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I was recommended by a few property agents in St Paul's Cray to choose a solicitor using your seach tool. What’s the financial upside for Estate Agents to promote your services over and above another?
We don’t make any financial incentive for directing people our way. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am 14 days into a freehold purchase having been directed to a firm by the selling agent to carry out the conveyancing in St Paul's Cray. We are not happy. Could you you assist me in finding new lawyers?
A solicitor would need to be very bad to suggest replacing them. Has your mortgage offer been issued? In the event that it has you need to make them aware of the new contact details and have the offer are re-sent. Your conveyancer needs to be on the lenders approved list to avoid supplemental costs and complications. So that should be your starting point. Our find a solicitor tool will help you find a lender approved lawyer for your conveyancing in St Paul's Cray
I am hoping to exchange soon on a leasehold property in St Paul's Cray. Conveyancing solicitors have said that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in St Paul's Cray should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your property and do you know what it means in practice? Whether your lease provides for a sinking account for major repairs? You should know if the lease allows you to add or upgrade anything in the flat- you should know whether any restrictions applies to all alterations or limited to structural alteration, and whether permission is required Will you be prohibited or prevented from having pets in the property? Defining your legal entitlements in relation to common areas in the block.E.G., does the lease include a right of way over a path or staircase?
I have had difficulty in negotiating a lease extension in St Paul's Cray. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a St Paul's Cray conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a St Paul's Cray residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired term as at the valuation date was 50.57 years.