I purchased a 4 bedroom Edwardian property in Callington. Conveyancing solicitor represented me and Virgin Money. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold under the exact same address. Is it worth asking Virgin Money to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Callington and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing lawyer who conducted the work.
I'm purchasing my first flat in Callington with a loan from Clydesdale. The builders would not budge the price so I negotiated £7000 of additionals instead. The estate agent told me not to tell my solicitor about this side-deal as it may adversely affect my loan with the lender. Is this normal?.
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 looking for a flat up to £305k and identified one near me in Callington I like with a park and railway links in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Callington for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a home loan that many years may be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
We're FTB’s - agreed a price, but the property agent informed us that the seller will only issue a contract if we appoint the agent's chosen conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Callington
It is unlikely the owners are behind this. If they desire ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and explain that (a)you are genuine buyers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you intend to appoint your preferred Callington conveyancing lawyers - as opposed tothe ones that will earn their estate agent a introducer fee or meet his conveyancing targets demanded by head office.
We have been advised by many family members to expect up to two months for Callington conveyancing to complete.This was a month ago. The draft contract was only forwarded to my property lawyer yesterday so does the time start running now?
Don't bank on moving on a set date until contracts are exchanged. Regardless of the assurances the people you are acquiring from or selling to make, or your financial adviser provides don't bank on them. More frustration is caused to buyers and sellers by unfulfilled promises than any other factor when it comes to conveyancing in Callington.