Unfortunately I am unable to travel far from Shinfield. I would like to know the understand why all Shinfield property lawyers are not on all lender panels?
As inequitable as it may appear for mortgage companies to limit who can represent them, from the public’s or lawyer’s perspective, the flip side is that banks are becoming ever more anxious and feel it crucial to defend themselves against illegal activities. As a result of this concern mortgage companies have restricted their conveyancing panel to a manageable size.
I'm buying a new build house in Shinfield with a loan from Barclays Direct. The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this side-deal as it will affect my mortgage with the bank. 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've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Shinfield is where the house is located. What do you suggest?
Flying freeholds in Shinfield are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shinfield you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shinfield may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am on look out for some leasehold conveyancing in Shinfield. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Shinfield - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a 2 bed flat in Shinfield, conveyancing formalities finalised 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Shinfield with a long lease are worth £206,000. The ground rent is £45 per annum. The lease comes to an end on 21st October 2090
With 66 years left to run the likely cost is going to be between £11,400 and £13,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first getting professional advice.
My sister purchased her house in Shinfield in 2005. She has got married, widowed and in recent months got married again. She now wishes to the sell the Shinfield property. I believe she will simply be need to supply copies of her marriage certificates to the solicitor but she is worried it will delay the sale of the house. Should she instruct a conveyancer to update the title documents for the property?
The is no need to update the register providing you have the evidence needed to show how the name change has come about.
The purchaser’s conveyancer will examine the title entries and require evidence by way of proof of the name change e.g. marriage certificates.