I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a residence in Colchester? or I am told that there is historic law that could mean that homeowners residing in a parish church boundary will be compelled to contribute towards repairs towards the chancel within the church. Is this suitable for conveyancing in Colchester?
Unless a previous acquisition of the house took place after 12 October 2013 you may assume that solicitors handling conveyancing in Colchester to remain recommending a chancel search and or chancel repair liability insurance.
3 months have gone by following my purchase conveyancing in Colchester completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Colchester with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not to tell my lawyer about this side-deal as it could adversely affect my loan with the bank. Is this normal?.
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 have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Colchester I like with a park and railway links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Colchester in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could request that they 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 and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
We are a fortnight into a leasehold purchase having been recommend to solicitors by the high street agent to carry out the conveyancing in Colchester. I am am very dissatisfied with the level of service. Could you you assist me in finding new lawyers?
A solicitor would need to be really bad in order to consider diss instructing them. Has your mortgage offer been sent? In the event that it has you will need to advise them of the new contact details and have the loan are re-issued. Your new conveyancer needs to be on the lenders approved list to avoid added fees and delays. So that should be your starting point. The search tool will help you find a bank approved lawyer for your home move in Colchester