Finally the sale completed on my house in Dunstable last August yet the purchaser is whats apping every few hours complaining that his lawyer is waiting to hear from mine. What are the post completion sale formalities following completion?
Post completion of your sale your solicitor should deliver the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Depending on the transaction, your conveyancer should also evidence that the mortgage has been repaid to the purchasers solicitors. There is unlikely to be post completion tasks just for conveyancing in Dunstable.
I am considering applying for a Aldermore mortgage for purchase of a newly converted (under development) in Dunstable with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Aldermore ?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I am buying my first flat in Dunstable benefiting from help to buy. The developers refused to move on the amount so I negotiated 6k of additionals instead. The property agent told me not reveal to my solicitor about this side-deal as it would affect my mortgage with Nationwide Building Society. Do I keep my lawyer in the dark?.
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.
What does commercial conveyancing in Dunstable cover?
Dunstable conveyancing for business premises incorporates a broad array of advice, offered by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
What are your top tips when it comes to appointing a Dunstable conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Dunstable conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with several firms including non Dunstable conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
How many lease extensions has the firm carried out in Dunstable in the last twenty four months?
Dunstable Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
The prefered form of lease structure is a share of the freehold. In this scenario the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently employed where it is bigger than a house conversion, the managing agent employed by the leaseholders. If a Dunstable lease has no more than 80 years it will affect the marketability of the property. Check with your mortgage company that they are willing to to proceed given the lease term. Leases with less than 80 years remaining means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you will need to own the residence for a couple of years before you are eligible to extend the lease. The answer will be useful as a) areas could result in problems for the block as the common areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will want to have full disclosure