I am purchasing a new build house in Brighton benefiting from help to buy. The builders would not budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not to tell my conveyancer about this extras as it will adversely affect my mortgage with the lender. 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've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Brighton is the location of the property. Is there any guidance you can give?
Flying freeholds in Brighton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Brighton you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Brighton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How easy is it to change firm as I need to choose a firm on the Godiva Mortgages Ltd conveyancing panel. I had appointed a local conveyancing solicitor in Brighton five minutes from me but he is not approved by Godiva Mortgages Ltd
We will our best to assist in finding you a conveyancing solicitor in Brighton on the Godiva Mortgages Ltd panel. Please note that the property lawyers that we work with do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Brighton. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Brighton.
I've recently bought a leasehold house in Brighton. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a split level flat in Brighton, 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? Similar flats in Brighton with over 90 years remaining are worth £202,000. The ground rent is £60 per annum. The lease terminates on 21st October 2077
With just 56 years remaining on your lease the likely cost is going to range between £29,500 and £34,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
I previously advised by my mortgage company that their approved lawyers operate no sale no charge basis for conveyancing in Brighton. Our purchase did not proceed and now the conveyancers have requested search fees! They say the fees are nothing to do with their fees!
in offering "no sale no fee" Brighton conveyancing firms are foregoing their fees for any work carried out. We must stress this does not constitute an insurance scheme. Disbursements aren’t covered – where the solicitor have to pay money out to third parties, e.g. Brighton local search fees