I have given 8 weeks notice to my existing landlord and have to be out of my let out property in Armthorpe by the end of next month. Conveyancing on my purchase has just started. Is it possible to complete in a couple of weeks as don't want to have to move into temporary accommodation?
It is unwise to serve notice for your letting unless you have exchanged. If you have not previously done so, update to your conveyancer and ask them to they chase the other side, try to an acceptable time-line that all parties will work to achieve
Just bought a detached house in Armthorpe , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My Armthorpe conveyancing solicitor works at snail pace, so I want to be certain that my ownership is recorded.
As far as conveyancing in Armthorpe registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can differ according to who lodges the application, whether it is in order and whether the Land registry communicate with any 3rd persons or bodies. As of today approximately three quarters of such applications are fully dealt with in less than three weeks but some can be subject to protracted delays. Registration takes place after the purchaser is living at the premises so 'speed' is not usually primary concern but where there is a degree of urgency associated with the registration then you or your solicitor should communicate with the Registry to express the reasoning for the application to be prioritised.
I am buying a new build house in Armthorpe benefiting from help to buy. The sellers refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not to tell my solicitor about this side-deal as it may jeopardize my loan with Lloyds TSB Bank. Do I keep my lawyer in the dark?.
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 am looking for a leasehold apartment up to £305k and found one round the corner in Armthorpe I like with a park and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Armthorpe in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
My 20yr old son is about to join the property ladder, he had his mortgage in principle. After the offer was accepted on house we called the mortgage company to progress the mortgage application. I was shocked to hear that mortgage companies do not accept all solicitor, they must be on their panel, is this right?
Lenders normally imposes restrictions either the type or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Armthorpe conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.