A colleague informed me that in purchasing a property in Feltwell there may be various restrictions preventing external alterations to the property. Is this right?

There are anumerous of properties in Feltwell which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Feltwell should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

I have paid off my mortgage with Co-operative. I assume I don't need a Feltwell conveyancer on the Co-operative panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Co-operative has sent the Land Registry the discharge electronically, and
3. Co-operative has instructed the Land Registry to do so

Planning on purchasing a maisonette in Feltwell. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Feltwell conveyancing practitioner is on the UBS conveyancing panel.

I am buying a new build house in Feltwell with a mortgage from Lloyds TSB Bank. The sellers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not to tell my conveyancer about this extras as it will affect my loan with the bank. 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 need to find a conveyancing solicitor for some conveyancing in Feltwell. I've land on a site which appears to be the ideal solution If there is a chance to get all this stuff done via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?

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?

I am tempted by the attractive purchase price for a couple of apartments in Feltwell which have about 50 years remaining on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Feltwell is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the premises. The majority of purchasers and lenders, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Feltwell conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Feltwell Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing

You should be aware that where the lease has less than eighty years it will affect the salability of the property. It is worth checking with your mortgage company that they are happy with remaining years on the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth discovering how much this would cost. For most Feltwelllease extensions you will need to own the property for two years in order to be legally able to extend the lease. It is important to be aware whether changing the roof or some other significant cost is due shortly that will be shared between the tenants and may well dramatically increase the the maintenance charges or result in a specific invoice. The prefered form of lease arrangement is a share of the freehold. In this scenario the leaseholders benefit from being in charge if their destiny and even though a managing agent is usually retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.

How much experience do your Feltwell conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?

Feltwell conveyancing lawyers help thousands of people move home every year and assisted plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Feltwell conveyancers have worked on recent similar matters.