Can you explain why leasehold purchase conveyancing in Windsor costs more?
Windsor leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am buying my first flat in Windsor with a mortgage from Santander. The developers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not reveal to my lawyer about the extras as it could jeopardize my loan with Santander. Should I keep quiet?.
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 opted to have a survey completed on a house in Windsor before retaining solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders may refuse to give a mortgage on such a property.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Windsor. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for some conveyancing in Windsor. I've discover a site which seems to have the ideal solution If there is a chance to get all formalities completed via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have just started marketing my basement flat in Windsor. Conveyancing has not commenced, but I have just received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as usual because all ground rent and maintenance charges should be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a 1 bedroom flat in Windsor, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Windsor with a long lease are worth £175,000. The ground rent is £65 levied per year. The lease comes to an end on 21st October 2082
With only 58 years unexpired the likely cost is going to span between £23,800 and £27,400 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
I am buying a ground floor apartment in Windsor. Conveyancing lawyer is waiting for, from the vendor, building insurance paperwork. I was told today I was informed that the owner needs to forward the insurance paperwork for the flat above as well. Why would my conveyancing practitioner want to check the insurance for the flat above? Is it strictly required? We have been waiting for the previous fortnight…
It is not impossible in leasehold conveyancing in Windsor to find Conveyancing in Windsor in a minority of cases reveals that the lease requires the tenant's to insure their individual flats as opposed to the freeholder insuring the complete premises - which is clearly preferable. You should double check with your conveyancing practitioner but it would seem that your solicitor is attempting to establish that the whole building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt as a result of lack of insurance cover.