I am purchasing a property for cash in Burghfield Common. I have been residing for the previous 20 years in Burghfield Common. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
In the absence of a mortgage, then the vast majority of the Burghfield Common conveyancing searches are at your discretion. Your conveyancer will 'advise', perhaps strongly, that you should have searches completed, but she has a professional duty to do this. One thing to consider; if you are intend to dispose of the house one day, it will be of interest to your prospective purchaser what the searches disclose. On occasion houses with apparent issues can still reveal adverse search results. A good conveyancing solicitor in Burghfield Common should be able to give you some constructive guidance in this regard.
I am about to put an offer on a leasehold flat in Burghfield Common. The estate agents assure me that it is usual for flats in Burghfield Common to have less than 75 years unexpired on the lease. I am taking out a mortgage with Virgin. Will the property be mortgageable given that the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 22/11/2020 the requirements read as follows :
Despite weeks of looking the Title Certificate and documents to my home can not be found. The conveyancers who conducted the conveyancing in Burghfield Common 4 years ago have long since closed. Will I be able to sell the house?
You no longer need to hold title original deeds to prove you own the land or property, given that the Land Registry have everything they need in a digital format.
I am buying my first flat in Burghfield Common with the aid of help to buy. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The estate agent suggested that I not inform my conveyancer about the deal as it would impact my loan with Bank of Ireland. 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 property I put an offer in last month in what should have been a quick, chain free conveyancing. Burghfield Common is where the house is located. Is there any advice you can impart?
Flying freeholds in Burghfield Common are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Burghfield Common you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burghfield Common may decide 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 property.