Me and my partner are due to complete on the purchase of a property in Gospel Oak but as a consequence of damage from a small fire at the property I have managed to agree reparation from the vendor of six thousand pounds in the form of a adjustment in the price. I had intended this to be dealt with as part of a side agreement however Nationwide are not allowing this. Why were they notified?

Your conveyancer being on the Nationwide conveyancing panel is obliged to inform Nationwide of any amendments to the sale price. If you prohibit your conveyancing practitioner to report the reduction to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new conveyancing practitioner for your conveyancing in Gospel Oak.

About to place an offer on a leasehold apartment in Gospel Oak. The property agents assure me that it is the norm for flats in Gospel Oak to have less than 75 years unexpired on the lease. I am getting a loan with Chelsea Building Society. Is this going to be a problem if the lease has 72 years unexpired.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 21/4/2024 the requirements read as follows :

It has been four months following my purchase conveyancing in Gospel Oak concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I am buying a new build house in Gospel Oak with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not to tell my solicitor about the deal as it would put at risk my loan with Godiva Mortgages Ltd. 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.

Due to the input of my in-laws I had a survey completed on a house in Gospel Oak before instructing lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies tend not give a loan on a flying freehold property.

It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Gospel Oak. Conveyancing will be smoother if you use a solicitor in Gospel Oak especially if they are familiar with such properties in Gospel Oak.