I'm purchasing my first flat in North Shields with a mortgage from Barnsley Building Society. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not inform my solicitor about the extras as it would adversely affect my mortgage with Barnsley Building Society. 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.
I decided to have a survey carried out on a property in North Shields ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies may not issue a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in North Shields. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm refinancing my current house to a BTL mortgage with Godiva Mortgages Ltd and intend to use the remaining equity as a deposit on another property. The neighborhood we are interested in is North Shields. Will your conveyancers be able to act for both sets of mortgage companies and link together the conveyances?
Make use of our search tool on this page to be sure that the conveyancers are on the relevant lender panels. On the basis that they are your conveyancer will be able to tie up the two deals but you should talk with you solicitor and communicate your desired outcome and needs.
Am I best advised to appoint a North Shields conveyancing solicitor who is local to the property I am buying? I have an old university friend who can perform the legal work however her office is approximately 350kilometers drive away.
The primary upside of using a local North Shields conveyancing firm is that you can visit the firm to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local North Shields know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and the majority were impressed that must outweigh using an unknown North Shields conveyancing lawyer just because they are round the corner.
Due to sign contracts shortly on a leasehold property in North Shields. Conveyancing solicitors inform me that they report fully within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in North Shields should include some of the following:
Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? Does the lease prevent you from subletting the flat, or having a home office for business You must be advised what counts as a Nuisance in the lease It needs to be made clear to you if the lease allows you to alter or upgrade aspects of the property- you must be made aware as to whether it relates to all alterations or limited to structural alteration, and whether licences for alterations is mandated necessary You should be sent a copy of the lease
North Shields Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
Is anyone aware of any major works on the horizon that will likely add a premium to the service charges? The answer will be helpful as a) areas may cause problems for the block as the common areas may begin to deteriorate where maintenance are not paid for b) if the leasehold owners have an issue with the managing agents you will need to have all the details Make sure you enquire if there are any onerous restrictions in the lease. For example it is reasonably common in North Shields leases that pets are not permitted in in a block in North Shields. If you love the propertyin North Shields but your dog is not allowed to live with you then you will be faced difficult compromise.