Are the BSA intent on creating a online directory to to identify law firms on the Loughborough BS conveyancing panel for instance in Eastbourne?
We would not expect to be advised of any plans on the part of the BSA to promote such a register.
I am buying my first flat in Eastbourne with the aid of help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not disclose to my conveyancer about the extras as it could impact my loan with Accord Mortgages Ltd. 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.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Eastbourne I like with a park and transport links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Eastbourne in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months 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 with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I need to find a conveyancing solicitor for my conveyancing in Eastbourne. I've stumble across a site which appears to be the ideal solution If it is possible to get all formalities completed via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My wife and I purchased a leasehold house in Eastbourne. Conveyancing and Halifax mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Eastbourne who previously acted has now retired. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Eastbourne conveyancing firm to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a ground floor flat in Eastbourne, conveyancing formalities finalised September 2011. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Eastbourne with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease terminates on 21st October 2085
You have 64 years remaining on your lease the likely cost is going to range between £14,300 and £16,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.