It has come to my attention via my financial adviser that my Edgbaston solicitor is not on the lender Solicitor panel. How can I be sure if this is correct?
Your first step should be to contact your Edgbaston conveyancer. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
Our god-son is buying a house that has just been built in Edgbaston with a mortgage from Clydesdale. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Clydesdale conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Clydesdale conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am buying a new build house in Edgbaston with a loan from National Westminster Bank. The sellers refused to move on the price so I negotiated 6k of extras instead. The property agent suggested that I not to tell my solicitor about the side-deal as it may affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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 into buying my first house which is in Edgbaston and I am already nervous. I couldn't find anything specific about Edgbaston. Conveyancing will be needed in due course but do you know about the Edgbaston area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Edgbaston. In the meantime here are some basic statistics that we found
Estate agents have just been given the go-ahead to market my ground floor apartment in Edgbaston. Conveyancing has not commenced, however I have just had a half-yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual given that all ground rent and service charges will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a 2 bed flat in Edgbaston, conveyancing having been completed in 1998. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Edgbaston with a long lease are worth £265,000. The ground rent is £50 per annum. The lease expires on 21st October 2097
With 76 years left to run we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.