Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Ravensthorpe so that I can attend their offices when needed.
These days approved lawyers for banks conduct the vast majority of work via Royal Mail, e-mail or over the phone. This enables them to conduct the legal work for your home move regardless of where you live in the country. Nevertheless you should check if you can still book an appointment to visit conveyancing lawyer if you prefer.
I'm buying my first flat in Ravensthorpe with a loan from Britannia. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not inform my conveyancer about the extras as it would jeopardize my mortgage with the lender. Should I keep quiet?.
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.
Am I best advised to use a Ravensthorpe conveyancing practitioner based in the location that I am purchasing? We have a good friend who can handle the legal formalities however her office is 300miles drive away.
The primary upside of using a high street Ravensthorpe conveyancing practice is that you can pop in to execute paperwork, deliver your ID and pester them if necessary. They will also have local insight which is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were happy that must outweigh using an unfamiliar Ravensthorpe conveyancing lawyer solely due to them being based in the area.
I am looking at a two apartments in Ravensthorpe which have in the region of forty five years unexpired on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Ravensthorpe is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of buyers and banks, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Ravensthorpe conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Ravensthorpe Leasehold Conveyancing - A selection of Queries Prior to buying
How many years remain on the lease? Is there a share of the freehold? It is important to be aware if redecorating or some other major work is due in the near future to be shared amongst the tenants and will materially increase the the service fees or require a specific payment.
I am an executor of my recently deceased mother’s Will, with a bungalow in Ravensthorpe which is to be marketed. The house is unregistered at the Land Registry and I'm advised that many buyers solicitors will insist that it is completed before they will proceed. What's the mechanism for this?
In the situation you refer to it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.