I am purchasing a new build house in Hampton Wick with a loan from The Mortgage Works. The developers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my conveyancer about this side-deal as it may impact my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 element on a house I have offered on two weeks back in what should have been a quick, no chain conveyancing. Hampton Wick is the location of the property. Can you offer any advice?
Flying freeholds in Hampton Wick are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampton Wick you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hampton Wick may determine 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 premises.
Are there any apps to help locate a Hampton Wick solicitor on the Nationwide Building Society conveyancing panel? I have a car and am prepared to travel upto 20miles to meet the lawyer.
You can use the tool on this page. Please select a bank and your location and you will see a number of Hampton Wick conveyancing lawyers located nearest you. We have listed some Hampton Wick conveyancing firms towards the end of this page and you can call them to verify if they are on the Nationwide Building Society approved list
I have just appointed agents to market my basement flat in Hampton Wick. Conveyancing has not commenced, however I have just received a half-yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should discharge the service charge as you normally would because all ground rent and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless 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. This will smooth the conveyancing process.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hampton Wick conveyancing firm to assist?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the premium.
An example of a Lease Extension case for a Hampton Wick property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
A couple of weeks ago I was told by my bank that their approved solicitors work on no sale no charge basis for conveyancing in Hampton Wick. Our purchase aborted yet the lawyers want search fees! They say the fees are seperate!
Hampton Wick conveyancing search costs are separate expenses not solicitors costs as these are paid to independent parties.