We are purchasing a property and the solicitor has raised the issue of Chancel Repair for which the house could be obligated to pay as it falls into the area of such a church. She has recommended insurance. Is this strictly required for conveyancing in Erdington
Unless a prior purchase of the premises completed after 12 October 2013 you may expect solicitors conducting conveyancing in Erdington to continue to propose a a chancel search and or chancel repair liability insurance.
I'm purchasing a new build house in Erdington with a mortgage from HSBC Bank. The builders would not budge the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not disclose to my solicitor about this side-deal as it may put at risk my loan with the lender. Is this normal?.
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 have been pointed in your direction by a number of estate agents in Erdington to choose a solicitor using your seach tool. Is there a financial inducement for Estate Agents to offer your services rather than alternative conveyancing organisations?
We refuse to make any financial incentive for directing people in our direction. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I own a leasehold flat in Erdington. Conveyancing and Yorkshire Building Society mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Erdington who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Erdington conveyancing solicitor to do this as you can do this on the Land Registry website for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Erdington Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
If a Erdington lease has less than eighty years it will affect the value of the apartment. It is worth checking with your bank that they are happy with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth finding out how much this will be. For most Erdingtonlease extensions you would be be obliged to have owned the property for two years before you are legally able to carry out a lease extension. Are any of leasehold owners in arrears of their service charge payments? The majority of Erdington leasehold flats will be liable to pay a service bill for maintenance of the block invoiced by the freeholder. If you acquire the apartment you will have to pay this contribution, usually periodically throughout the year. This may be anything from several hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay annual, ordinarily this is not a large figure, say around £50-£100 but you need to enquire it because on occasion it can be many hundreds of pounds.
How and when do I pay the Stamp Duty Land Tax payable for my Erdington house purchase?
Most solicitors will fill out a Land Transaction Return Form for you as part of your Erdington conveyancing transaction for you to sign. After completion your conveyancer will submit the Land Transaction application to the Inland Revenue and - assuming they have the funds - settle any Stamp Duty liability on your behalf.