My father advised me that in buying a property in Caversham there may be various restrictions affecting the ability to carry out external alterations to the property. Is this right?
We are aware of anumerous of properties in Caversham which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Caversham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
About to purchase apartment in Caversham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Caversham solicitor is on the Kent Reliance conveyancing panel.
RBS have agreed my home loan in principle, my bid on a house in Caversham has been accepted, now what?
The estate agent will wish to be informed of your lawyer's details (make sure the conveyancing practitioners are on the bank’s approved list). Telephone RBS or your broker and finalise any relevant forms. RBS will instruct a valuer who will get in contact with the selling agent or seller to arrange an appointment. Once conducted (assuming no problems) it takes about ten days to get a mortgage offer. RBS will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Caversham.
Should my conveyancer be making enquiries concerning flooding as part of the conveyancing in Caversham.
Flooding is a growing risk for lawyers specialising in conveyancing in Caversham. There are those who acquire a house in Caversham, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their solicitors which should give them a better understanding of the risks in Caversham. The standard completed inquiry forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to determine if the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the seller, then a purchaser may bring a compensation claim stemming from an inaccurate response. The purchaser’s lawyers may also order an enviro report. This should reveal whether there is any known flood risk. If so, further inquiries will need to be made.
I'm buying a new build house in Caversham benefiting from help to buy. The developers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about the extras as it will jeopardize my mortgage with the bank. 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 looking for a flat up to £245,000 and identified one round the corner in Caversham I like with a park and station in the vicinity, the downside is that it only has 49 years unexpired on the lease. There is not much else in Caversham for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
I was recommended by numerous property agents in Caversham to select a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to market your lawyers over alternative conveyancing organisations?
We refuse to make any commission for sending work to this site. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.