It has been 2 months following my purchase conveyancing in Street completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Street with a mortgage from . The builders refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not disclose to my conveyancer about this extras as it would jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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 house in Street before instructing conveyancers. I have been told that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend not give a mortgage on a flying freehold house.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Street. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Street to see if the conveyancing will be more expensive.
I acquired a 2 bed flat in Street, conveyancing having been completed 3 years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Street with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease terminates on 21st October 50
With just 50 years left to run we estimate the premium for your lease extension to be between £36,100 and £41,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed due diligence. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
Do I need to pop into the offices of the bank conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Street as it will be easier to pop in to their offices if necessary.
Most conveyancing panel lawyers for the bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Street. it would nevertheless be wise to check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.