I'm purchasing a new build house in Verwood with the aid of help to buy. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not inform my conveyancer about the extras as it could impact my loan with the lender. 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.
I decided to have a survey carried out on a property in Verwood ahead of instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders tend not grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Verwood. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking into buying my first house which is in Verwood and I am already nervous. I couldn't find anything specific about Verwood. Conveyancing will be needed in due course but do you know about the Verwood area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Verwood. In the meantime here are some basic statistics that we found
We're FTB’s - agreed a price, yet the estate agent informed us that the seller will only proceed if we instruct the agent's recommended lawyers as they need a ‘quick sale’. My instinct tells me that we should use a high street solicitor who is accustomed to conveyancing in Verwood
It is improbable the vendors are behind this. Should the seller require ‘a quick sale', alienating a serious purchaser is likely to cause more damage than good. Speak to the owners direct and make sure they comprehend that (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you are going to use your own,trusted Verwood conveyancing lawyers - rather thanthe ones that will provide their estate agent a kickback or achieve conveyancing thresholds demanded by head office.
My fiance and I may need to sub-let our Verwood ground floor flat for a while due to a career opportunity. We used a Verwood conveyancing practice in 2002 but they have since shut and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Notwithstanding that your last Verwood conveyancing solicitor is no longer available you can check your lease to check if you are permitted to let out the premises. The accepted inference is that if the lease is non-specific, subletting is allowed. Quite often there is a prerequisite that you need to seek permission via your landlord or some other party prior to subletting. This means you not allowed to sublet without first obtaining consent. Such consent should not be unreasonably withheld. If the lease prohibits you from letting out the property you will need to ask your landlord if they are willing to waive this restriction.
Verwood Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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Who manages the block? What is the length of the lease? The majority of Verwood leasehold apartments will incur a service charge for maintenance of the block set on behalf of the management company. Should you buy the apartment you will have to meet this amount, normally in instalments throughout the year. This may differ from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all probability there will be a ground rent to be met annual, ordinarily this is not a exorbitant figure, say approximately £50-£100 but you need to enquire as sometimes it could be many hundreds of pounds.
The solicitors undertaking our conveyancing in Verwood has forwarded papers to review that show the property is unregistered with epitome documents. Surely all houses in Verwood should be registered?
Although the vast majorities of properties in Verwood are now registered with HM Land Registry there are still some that remain unregistered. Any property in Verwood that has been purchased since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Verwood property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Verwood conveyancing lawyers should be capable of dealing with such matters but where uncertainty reigns the usual proposition these days seems to be for the seller to deal with the registration formalities first and thereafter sell - this no doubt cause a prolonged conveyancing.