AssumingI was to acquire a freehold housein Burton upon Stather for cash and have no survey and no conveyancing searches how much would I expect to have to pay for conveyancing in Burton upon Stather?
Any savings you would achieve would be limited to the Burton upon Stather conveyancing searches. Your conveyancing practitioner still got to do everything else - money laundering, liaising with your vendors conveyancing practitioner, SDLT return, register the property etc. A marginal saving might be made by not needing to register a mortgage however it won't be meaningful.
Should my solicitor be asking questions about flooding as part of the conveyancing in Burton upon Stather.
Flooding is a growing risk for conveyancers dealing with homes in Burton upon Stather. Some people will purchase a property in Burton upon Stather, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a numerous searches that may be carried out by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Burton upon Stather. The conventional set of property information forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to discover if the premises has ever been flooded. In the event that the property has been flooded in past which is not notified by the owner, then a purchaser could issue a legal claim for losses as a result of such an incorrect reply. The buyer’s conveyancers should also carry out an enviro report. This should indicate whether there is any known flood risk. If so, more detailed inquiries will need to be carried out.
I'm purchasing my first flat in Burton upon Stather with a loan from Bank of Ireland. The developers would not move on the price so I negotiated £7000 of extras instead. The property agent advised me not to tell my conveyancer about this deal as it may jeopardize my loan with Bank of Ireland. 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 am looking into buying my first house which is in Burton upon Stather and I am already nervous. I couldn't find anything specific about Burton upon Stather. Conveyancing will be needed in due course but do you know about the Burton upon Stather area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Burton upon Stather. In the meantime here are some basic statistics that we found
Last July I purchased a leasehold house in Burton upon Stather. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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 bought a leasehold flat in Burton upon Stather, conveyancing formalities finalised March 2005. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Burton upon Stather with a long lease are worth £186,000. The ground rent is £55 invoiced annually. The lease ends on 21st October 2070
You have 52 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.