This question may be naive but I am new to the house moving as a 1st time buyer of a garden flat in Wiltshire. Do I pick up the keys to the premises on the completion date from my conveyancer? If so, I will appoint a High Street conveyancing solicitor in Wiltshire?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the owner’s conveyancers, and shortly after the monies have arrived, you should be called to pick up the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.
Completion of my purchase has taken place for my property in Wiltshire. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I had an offer accepted on an apartment in Wiltshire on 29/11/2021, valuation was booked 3 days after, all came back fine. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Nottingham and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nottingham conveyancing panel. Are Nottingham entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
Is it necessary to pay for insurance to cover chancel repairs when buying a property in Wiltshire?
Unless a prior acquisition of the premises completed after 12 October 2013 you could expect conveyancing practitioners delivering conveyancing in Wiltshire to remain encouraging a chancel search and or chancel repair liability policy.
I am buying my first flat in Wiltshire with a mortgage from Yorkshire Building Society. The builders would not reduce the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my solicitor about this deal as it may impact my mortgage with the bank. 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.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one near me in Wiltshire I like with amenity areas and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Wiltshire for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
What are your top tips when it comes to finding a Wiltshire conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for your lease extension (regardless if they are a Wiltshire conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with several firms including non Wiltshire conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
Can they put you in touch with clients in Wiltshire who can give a testimonial?
I am the registered owner of a garden flat in Wiltshire, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Wiltshire with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2087
With only 65 years remaining on your lease we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.