Why do I have to pay up front for my conveyancing in Sutton On Sea?
If you are buying a property in Sutton On Sea your solicitor will ask you place them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the purchase price then this will be needed immediately before contracts are exchanged. The closing balance that is needed should be transferred a couple of days ahead of the completion date.
It has been 3 months since my purchase conveyancing in Sutton On Sea took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Sutton On Sea with the aid of help to buy. The sellers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about this side-deal as it could put at risk my loan with Leeds Building Society. 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.
Due to the guidance of my in-laws I had a survey completed on a property in Sutton On Sea ahead of appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some banks will not grant a loan on such a property.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Sutton On Sea. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sutton On Sea to see if the conveyancing will be more expensive.
Given that I am about to part with hundreds of thousands of pounds on a two bedroom apartment in Sutton On Sea I would like to have a conversation with the conveyancer concerning thetransaction before giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be carrying out your property ownership legalities in Sutton On Sea.There is no ‘factory style conveyancing’ - every client is an important person, not a matter reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Sutton On Sea should be the figure that you end up paying.
We own a leasehold flat in Sutton On Sea. Conveyancing was completed in five years ago. I have heard that I mustn’t allow the the remaining lease term to get too short. Why is that a problem?
Sutton On Sea domestic long term leases are for a prescribed period - usually just under one hundred years when they are first granted. However a significant appartments in Sutton On Sea were constructed or converted 35 or more years ago and so such leases now have under eighty years left to run. This may seem like a long time but Banks, Building Societies and other mortgage institutions on the whole need leases to have at least 75 years unexpired to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching 75 years. To maximise the marketability of your property you should be considering whether to extend your lease well in advance of selling the property. Furthermore advantages to taking action before the lease reaches even 80 years as when the lease falls below 80 years the premium to be paid to extend starts to increase.