I am purchasing a new build house in Seaham with the aid of help to buy. The developers would not reduce the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my solicitor about this side-deal as it will adversely affect 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.
I decided to have a survey done on a house in Seaham prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders may refuse to give a mortgage on this type of property.
It varies from the lender to lender. Santander has different instructions from Nationwide. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Seaham. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Seaham. I have stumble upon a site which looks to be the ideal offering If there is a chance to get all this stuff done via email that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only Seventy years unexpired on my lease in Seaham. I now wish to get lease extension but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to find the landlord. On the whole a specialist may be useful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the application to the County Court overseeing Seaham.
Leasehold Conveyancing in Seaham - Sample of Questions you should ask Prior to buying
Who is in charge of the block? The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees enjoy being in charge if their destiny and notwithstanding that a managing agent is usually employed if it is bigger than a house conversion, the managing agent is directed by the tenants. Please note that where the lease has fewer than eighty years it will affect the salability of the property. Check with your mortgage company that they are content with remaining years on the lease. A short lease means that you will probably have to extend the lease at some point and it is worth discovering how much this would cost. For most Seahamlease extensions you will be be obliged to have owned the property for two years before you are eligible to extend the lease.
I'm going to purchase an apartment very soon in Seaham. I will need a Seaham conveyancing solicitor. The family solicitor is located in Scotland and unable to assist.Please can you refer me to a cheap Seaham solicitor that can help us as well as represent Barclays?
The purpose of this site is restricted to being a directory service for solicitors who want to be listed as being on the approved conveyancing panel for Barclays in certain areas for example Seaham . Our intention is not to recommend any particular property lawyer.