Forgive me if this question is silly but I am new to the house moving as a first time purchaser of a ground floor flat in Vauxhall. Do I pick up the keys to the house on the completion date from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Vauxhall?
On the day of completion you do not need to go to the conveyancers office in Vauxhall. Your solicitors will transfer the purchase money to the owner’s lawyers, and once they have received this, you should be invited to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
I am the sole beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Vauxhall. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the house in December. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How sensible a view banks take of it, depend on the lender as this clause is primarily there to pick up on the purchase and immediately sell or the quick reselling of property.
Intending to buy a flat in Vauxhall. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Vauxhall solicitor is on the Nottingham conveyancing panel.
I am downsizing from our property in Vauxhall and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed an online conveyancing firm rather than a conveyancing solicitor in Vauxhall. Having lived in Vauxhall for three years we know of no issue. Should we get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am purchasing a new build house in Vauxhall benefiting from help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not to tell my conveyancer about the deal as it may adversely affect my loan with the bank. Should I keep quiet?.
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 input of my in-laws I had a survey completed on a house in Vauxhall prior to retaining conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some banks will not give a loan on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Vauxhall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Vauxhall to see if the conveyancing costs will increase in light of this.
I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Vauxhall. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Vauxhall are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Vauxhall so you should seriously consider shopping around for a Vauxhall conveyancing practitioner and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your lawyer will advise you fully on all the issues.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Vauxhall conveyancing firm to act on my behalf?
Most definitely. We can put you in touch with a Vauxhall conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Vauxhall premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The unexpired term as at the valuation date was 56 years.
I have miscalculated my finances and am a couple of grand short a 10% deposit on my house purchase in Vauxhall , but I am anxious proceed. What can I do?
One option is to try and agree a lesser deposit. Many vendors will accept a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second