I am purchasing a new build house in Woodborough benefiting from help to buy. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not reveal to my solicitor about this extras as it may jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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 done on a house in Woodborough ahead of retaining solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks may refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. Santander has different requirements from Halifax. If you contact us we can check via 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 Woodborough. Conveyancing may be slightly more expensive based on your lender's requirements.
My company is looking to take over a lease of an office on a shopping parade. Can you recommend lawyers offering no-sale-no fees for non-domestic conveyancing in Woodborough for less than £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Woodborough, including the sale and purchase of businesses as well as simply property. Whether you are intending to acquire or lease a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. Regarding the fees this will depend on the structure and terms of the proposed transaction. Let us have your details or call us so that we may supply you with a fixed commercial conveyancing calculation.
My husband and I are four weeks into a freehold purchase having been recommend to solicitors by the high street agent to handle our conveyancing in Woodborough. I am not happy. Can you help me find new conveyancers?
A solicitor would need to be really bad in order to consider replacing them. Has the mortgage offer been issued? If so you will need to advise them of the new solicitor and get the offer are re-sent. Your new solicitor ideally needs to be on the lenders approved list to avoid escalating charges and delays. That should be your starting point. The search tool will assist you in finding a lender approved lawyer for your conveyancing in Woodborough
I am employed by a busy estate agent office in Woodborough where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Woodborough conveyancing firms. Could you clarify whether the vendor of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Woodborough Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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Its a good idea to discover as much as you can about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to daily matters such as the upkeep of the communal areas. Enquire of prospective neighbours what they think of them. Finally, find out the dates that the service charges are due to the relevant party and precisely what you get for your money. Does the lease include onerous restrictions? This information is helpful as a) areas may cause problems in the block as the communal areas may begin to deteriorate if maintenance are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to know about it
I previously informed by my mortgage company that their panel conveyancers operate no completion no charge basis for conveyancing in Woodborough. I had a purchase fall through nevertheless the solicitors have requested search fees! They say the fees are nothing to do with their fees!
By promising "no sale no fee" Woodborough conveyancing lawyers are foregoing their fees for any work done. We must stress this is not to be regarded as an insurance scheme. you will still be expected to reimburse any costs that your solicitor has expended for you for example Woodborough local authority searches