I am purchasing a new build house in Worcestershire benefiting from help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about this deal as it will impact 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 carried out on a house in Worcestershire prior to retaining lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders will not give a loan on this type of premises.
It varies from the lender to lender. Lloyds has different instructions from Halifax. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Worcestershire. Conveyancing will be smoother if you use a solicitor in Worcestershire especially if they are familiar with such properties in Worcestershire.
Is it simple use your search facility to select a conveyancing solicitor in Worcestershire on the panel for my bank?
Step one is to pick a bank such as Nationwide Building Society, Coventry Building Society or Clydesdale then type in your location such as Worcestershire. Conveyancing organisations in Worcestershire and further afield should be identified.
As co-executor for the will of my grandfather I am selling a residence in Swansea but reside in Worcestershire. My solicitor (based 250 kilometers awayhas requested that I sign a statutory declaration prior to completion. Could you suggest a conveyancing lawyer in Worcestershire who can witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are Worcestershire based
I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since discovered that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Worcestershire. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the risks of buying a leasehold house in Worcestershire ?
The majority of houses in Worcestershire are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Worcestershire so you should seriously consider shopping around for a Worcestershire conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor will appraise you on the various issues.
I purchased a leasehold flat in Worcestershire, conveyancing was carried out July 1995. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Worcestershire with an extended lease are worth £191,000. The ground rent is £55 invoiced annually. The lease terminates on 21st October 2078
With just 54 years left to run we estimate the price of your lease extension to range between £31,400 and £36,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. You should 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 move forward placing reliance on this information before getting professional advice.
Do I stop the direct debit for my mortgage with TSB as soon as a completion date for my home sale in Worcestershire has been set?
You would be well advised to maintain paying any mortgage sums to TSB pending the mortgage being repaid on completion as part of your Worcestershire conveyancing.