I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would prefer to appoint a high street conveyancing solicitor in Wisbech?
Do check but the chances are that give you one of their panel lawyers should you take up the "fee-free" offer. Call the bank to check if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Wisbech.
I require quick conveyancing in Wisbech as I have an ultimatum to exchange contracts inside 2 weeks. A home loan is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at liberty not to have searches conducted although no solicitor would advise that you don't. With lots of history conveyancing in Wisbech the following are examples of issues that can arise and therefore affect the marketability of the property: Enforcement Actions, Overdue Charges, Overdue Grants, Road Schemes,...
I am purchasing my first flat in Wisbech with the aid of help to buy. The developers would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my solicitor about this side-deal as it may put at risk my loan with the bank. 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.
I was pointed in your direction by numerous selling agents in Wisbech to select a solicitor on your site. Is there a financial advantage for Estate Agents to recommend your lawyers over and above a competitor’s?
We don’t make any referral fee for pointing buyers and sellers in our direction. We found it would be just too difficult a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
Back In 2009, I bought a leasehold flat in Wisbech. Conveyancing and Clydesdale mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Wisbech who acted for me is not around. Do I pay?
First contact HMLR to make sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to instruct a Wisbech conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I purchased a studio flat in Wisbech, conveyancing was carried out 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Wisbech with an extended lease are worth £195,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2084
You have 63 years left to run we estimate the price of your lease extension to span between £16,200 and £18,600 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt 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 before seeking the advice of a professional.
I have just had an offer accepted on a leasehold flat in Wisbech and the estate agent that we are using suggested his lawyer. She quoted a thousand pounds plus VAT and 3rd party costs. Does this sound steep?
You should not rely on a single estimate. One should seek like-for-like quotes for your conveyancing in Wisbech. Then pick one that you are comfortable with and crucially, is on the approved list of the mortgage company that you are sourcing your mortgage from.