My father advised me that in purchasing a property in Grantham there may be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are anumerous of properties in Grantham which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Grantham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am the single recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Grantham. The Grantham property was put into my name in November. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my property ownership could be regarded the same way as though I had purchased the house in November. Is the property unsalable for six months?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some banks would take a practical view as this obligation chiefly exists to pick up on subsales or the wholesaling and assigning of properties.
I can not work out if my lender requires a lease extension. I have telephoned my Grantham building society branch on various occasions and was reassured it wasn't an issue and they will lend. My Grantham conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend based on their specific requirements. Who do I believe?
As long as the property lawyer is on the lender approved list, they must comply with the Council of Mortgage Lenders’ Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What can a local search tell me concerning the house we're buying in Grantham?
Grantham conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search plays a central part in many a Grantham conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search should reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I am buying my first flat in Grantham with the aid of help to buy. The developers refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my lawyer about this side-deal as it may jeopardize my loan with the bank. 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Grantham is where the house is located. What do you suggest?
Flying freeholds in Grantham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Grantham you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grantham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Me and my wife are soon to exchange buying a house in Grantham but as a result of wreckage from the recent storms I have agreed reparation from the current proprietors of £2k by way of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however my lender will not permit this. Why were they involved?
The lawyer being on a lender approved list is duty bound to inform the mortgage company of any amendments to the sale price. If you prohibit your solicitor to notify the reduction to your bank then they would have no choice but to discontinue representing you and the lender.