I am buying a terrace house in Watlington. We would like to carry out an extension to the side at the house.Will legal work on the property include enquiries to see if these works are prohibited?
Your property lawyer will check the registered title as conveyancing in Watlington will occasionally reveal restrictions in the title documents which prohibit categories of works or require the consent of another owner. Many extensions need local authority planning permissions and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor prior to committing yourself to a purchase.
We have a mortgage agreed in principle with RBS. Watlington conveyancing solicitors have been chosen. How long does it take for RBS to send the offer to the conveyancing practitioner?
Some lenders take longer than others. Have RBS conducted the survey? Have you informed RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My fiancee and I are in the process of viewing houses in Watlington and I am about to put in an offer. Should I already have a lawyer appointed at this point? I will be getting a home loan with Kent Reliance.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are taking out a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
I'm purchasing my first flat in Watlington with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of extras instead. The property agent advised me not to tell my lawyer about this side-deal as it will jeopardize my loan with the bank. Is this normal?.
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.
I have been on the look out for a leasehold apartment up to £195,000 and identified one round the corner in Watlington I like with a park and transport links nearby, the downside is that it only has 52 years on the lease. I can't really find anything else in Watlington suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
How easy is it to switch firm as I need to find a firm on the TSB conveyancing list. I was using a family conveyancing solicitor in Watlington round the corner but the firm is not accepted by TSB
It would be our pleasure to assist you select a conveyancing solicitor in Watlington on the TSB panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Watlington. In making use of the find a conveyancing solicitor tool on this site, you can scrutinise fees for conveyancing solicitors in Watlington and throughout England and Wales.
I am looking at a two flats in Watlington which have approximately 50 years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Watlington. The lease is a right to use the property for a prescribed time frame. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to extend the lease. For this reason it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be reluctant to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I am the registered owner of a 2 bed flat in Watlington, conveyancing was carried out July 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Watlington with an extended lease are worth £260,000. The ground rent is £50 yearly. The lease ceases on 21st October 2100
With just 75 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
How and when do I incur stamp duty due for my Watlington property purchase?
Your conveyancing practitioner should complete a Land Transaction Return Form on your behalf during your Watlington purchase transaction for signature. After completion your solicitor will submit your Land Transaction Return Form to the Tax Authorities and - as long as they have the funds - settle any tax bill payable on your behalf.