I am buying a right to buy a flat in Bungay. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Bungay you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Bungay.
Despite weeks of looking the Title Certificate and documents to our home are lost. The lawyers who handled the conveyancing in Bungay 5 years ago no longer exist. What are my next steps?
Gone are the days when you need to have the physical original deeds to prove you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
I'm purchasing a new build house in Bungay with a mortgage from Accord Mortgages Ltd. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The house builders rep advised me not inform my lawyer about the deal as it will put at risk my loan with Accord Mortgages Ltd. Should I keep quiet?.
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 selling my home. My former solicitors have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Bungay if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Bungay. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Can you provide any top tips for leasehold conveyancing in Bungay with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Bungay can be avoided if you appoint lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ lawyers. Some Bungay leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you have had any disputes with your landlord or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is ongoing. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to present the dispute as historic rather than ongoing. If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Bungay leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord consenting to such works. Should you dont have the approvals in place do not communicate with the landlord without contacting your lawyer in the first instance.
I invested in buying a studio flat in Bungay, conveyancing formalities finalised 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Bungay with over 90 years remaining are worth £216,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2088
You have 69 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 plus professional fees.
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 tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.