I have given 2 months notice to my current landlord and must leave my rented flat in Llanarth by 2/12/2020. Conveyancing on my purchase is underway. Can I complete in six weeks as I wish to avoid having to find temporary accommodation?
It is unwise to provide notice for your lease unless you have exchanged. Assuming that you have not already done so, update to your lawyer and request that they chase the owners solicitors, try to an agreed time frame that everyone will work towards
Will my conveyancing lawyers need to check that the building insurance when buying a house in Llanarth. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/10/2020, the requirements read as follows :
Various online forums that I have visited warn that are the main reason for hinderance in Llanarth house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Llanarth.
I am buying a new build house in Llanarth with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The property agent advised me not inform my lawyer about this deal as it will put at risk my loan with Nottingham Building Society. 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 have been on the look out for a flat up to £235,500 and identified one close by in Llanarth I like with amenity areas and station in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in Llanarth suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.