I am buying my first flat in Buxton benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not to tell my conveyancer about the deal as it will adversely affect my loan with Alliance & Leicester . 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 issue on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Buxton is the location of the property. Can you offer any assistance?
Flying freeholds in Buxton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Buxton 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 Buxton 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 premises.
In what way does the Landlord & Tenant Act 1954 impact my commercial offices in Buxton and how can your lawyers assist?
The 1954 Act gives protection to commercial lessees, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Buxton
In my capacity as executor for the estate of my aunt I am disposing of a house in Newport but live in Buxton. My conveyancer (who is 200 miles awayneeds me to execute a stat dec before completion. Could you suggest a conveyancing lawyer in Buxton to attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are located in Buxton
Planning to complete next month on a ground floor flat in Buxton. Conveyancing lawyers have said that they will have a report out to me next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Buxton should include some of the following:
Repair and maintenance of the premises Information as to the provision in the lease to pay service charges - in respect of the block, and the wider rights a leaseholder has The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. The total extent of the demise. This might be the flat itself but could also include a roof area or basement if applicable. Alterations to the premises
I purchased a 2 bed flat in Buxton, conveyancing having been completed December 2009. Can you work out an approximate cost of a lease extension? Similar properties in Buxton with an extended lease are worth £176,000. The ground rent is £50 yearly. The lease finishes on 21st October 2102
With just 80 years unexpired we estimate the premium for your lease extension to range between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.