Have just purchased a probate house at auction in Bracknell. Conveyancing is required. What happens now?
Having legally committed yourself to purchase you should find a conveyancing solicitor quickly as you now have a pending a drop dead date to complete the deal. All auction property should have an associated auction pack. This should include evidence of title and search results. If you have purchased leasehold premises the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to a leasehold property. You need to give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in place to complete on the on the contractual date .
Aldermore have agreed my home loan in principle, my bid on a house in Bracknell has been accepted, what happens next?
The property agent will need to know who your solicitors are (ensure that the conveyancing practitioners are on the bank’s approved list). Call up Aldermore or your broker and finish off any relevant forms. Aldermore will appoint a valuer who will get in contact with the estate agent or owners to book an appointment. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Aldermore will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bracknell.
My offer on a detached house in Bracknell has been accepted, the vendors do nevertheless have a connected purchase. The vendors have offered on on an apartment, however it’s not been accepted yet, and have viewings of other apartments booked. I have chosen a local conveyancing solicitor in Bracknell. What should be my next step? When do I get the mortgage application with RBS started?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx one thousand pounds, then survey, Bracknell conveyancing search charges, etc). First, you should ensure that your solicitor is on the RBS approved list. Regarding the next stages this very much depends on the circumstances of your case, attraction to the property and on the state of the market. During a hot market some home buyers will apply for a home loan with RBS and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with searches.
I'm purchasing a new build house in Bracknell with a mortgage from Britannia. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not inform my lawyer about this side-deal as it could put at risk my mortgage with Britannia. Should I keep quiet?.
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.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Bracknell I like with open areas and transport links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Bracknell in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be problematic. Reduce 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 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am looking for a conveyancing solicitor in Bracknell for my home move. Is there any facility to see a firm’s record with the legal regulator?
Anyone may read published Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For information Pre 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training reasons.
Can you offer any advice when it comes to appointing a Bracknell conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Bracknell conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with several firms including non Bracknell conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
What are the costs for lease extension conveyancing?
I invested in buying a 2 bed flat in Bracknell, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Bracknell with over 90 years remaining are worth £201,000. The ground rent is £45 yearly. The lease finishes on 21st October 2085
With just 65 years unexpired the likely cost is going to be between £13,300 and £15,400 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.