Is there a reason why leasehold purchase conveyancing in Seaham is more expensive?
Seaham leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I purchased a terraced Edwardian property in Seaham. Conveyancing solicitor represented me and Bank of Ireland. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Seaham and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing lawyer who conducted the conveyancing.
I'm buying my first flat in Seaham with a mortgage from Lloyds TSB Bank. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not to tell my conveyancer about this side-deal as it could adversely affect my loan with the bank. Is this normal?.
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.
Is it simple use your search app to choose a conveyancing solicitor in Seaham on the authorised to act for my lender?
Step one is to choose a mortgage company such as Accord Mortgages Ltd, Norwich and Peterborough Building Society or Barclays Direct then choose your preferred area e.g. Seaham. Conveyancing practices in Seaham and across England and Wales will then be identified.
Is it best to go with a Seaham conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can perform the conveyancing however his firm is located approximately 350miles away.
The primary upside of using a high street Seaham conveyancing practice is that you can attend the office to sign documents, hand in your ID and pester them where appropriate. They will also have local insight which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and on the whole were happy that must trump using an unknown Seaham conveyancing solicitor just because they are Seaham based.