I'm purchasing a new build house in Lampeter with a loan from Accord Mortgages Ltd. The builders would not move on the price so I negotiated 6k of additionals instead. The estate agent told me not to tell my solicitor about the deal as it would affect my mortgage 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.
I am looking for a flat up to £305k and identified one near me in Lampeter I like with a park and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Lampeter in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
How straightforward is it to use the search tool to get a costs illustration from a conveyancing practitioner in Lampeter on the panel for my lender?
1st pick a lender such as Halifax, The Mortgage Works or Britannia then choose your location for example Lampeter. Conveyancing organisations in Lampeter and beyond will then be shown.
As co-executor for the estate of my grandmother I am disposing of a residence in Cardiff but I am based in Lampeter. My conveyancer (based 200 kilometers from mehas requested that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing practitioner in Lampeter to witness this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Lampeter
How up-to-date is your search tool for the mortgage company conveyancing panel in Lampeter? Do the mortgage companies send you an updated list?
Lampeter firms and firms carrying out conveyancing in Lampeter themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.