Do the conveyancing lawyers that you recommend perform conveyancing in Braintree by way of an attended exchange?
There are a few conveyancing specialists carrying out one day exchanges. Please contact us to receive a costs illustration and details as to availability.
I am buying my first flat in Braintree benefiting from help to buy. The builders would not reduce the price so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my conveyancer about the deal as it could jeopardize my loan with the bank. 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.
I'm converting the mortgage on my existing house to a BTL loan with Birmingham Midshires and I will use the rest of the raised equity as a deposit on further property. The neighborhood we are talking about is Braintree. Will your solicitors be able to act for the two lenders and link together the two deals?
Do use our search tool on this page to ensure that the lawyers are on the appropriate lender panels. Assuming that they are the lawyer should be able to connect the two transactions but you should have a chat with you conveyancer and make clear your desired outcome and requirements.
What are your top tips when it comes to appointing a Braintree conveyancing practice to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Braintree conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Braintree conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
How familiar is the firm with lease extension legislation?
I purchased a basement flat in Braintree, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Braintree with an extended lease are worth £186,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2072
With only 51 years remaining on your lease the likely cost is going to be between £30,400 and £35,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
My partner and I have an offer in principle from Nottingham Building Society who said that they will loan up to £218k. When do I need to instruct a lawyer for conveyancing? Braintree is where we plan to move to.
You can appoint a solicitor now so that the lawyer can open the ledger so they can commence the ID checks etc. Once you wish them to commence work you will be asked for a payment on account usually about £175. That should normally be after you have the loan offer from the bank and survey results, nevertheless should you wish to expedite the process you can start sooner even though you may be risking some money.