I have justdiscovered that Wolstenholmes have closed. They carried out my conveyancing in Winkleigh for a purchase of a leasehold flat 9 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Winkleigh conveyancing specialists.
I am buying a new build house in Winkleigh benefiting from help to buy. The developers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not reveal to my solicitor about this side-deal as it may adversely affect my mortgage with the bank. Is this normal?.
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 leasehold apartment up to £305k and found one close by in Winkleigh I like with a park and railway links nearby, however it only has 49 remaining years left on the lease. There is not much else in Winkleigh in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I have just started marketing my ground floor flat in Winkleigh. Conveyancing has not commenced, however I have recently received a yearly service charge demand – Do I pay up?
The sensible thing to do is pay the maintenance contribution as normal as all ground rent and service invoices should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a basement flat in Winkleigh, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Winkleigh with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2083
With 62 years left to run we estimate the price of your lease extension to span between £17,100 and £19,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
Our lenders have just issued us with a mortgage offer. We are using a local conveyancer in Winkleigh yesterday. Today, our broker called to say that the bank said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the lender had a say Is this permitted?
You are permitted to use any conveyencer you prefer to instruct including the said conveyancer in Winkleigh however if your lender aren't happy with them you would have to fork out an extra fee so the bank can retain their own conveyancer too. On occasion it is possible your solicitor may apply to get included on to the bank list of approved firms. Do make the most of internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Winkleigh on the lender panel. You can go into your local mortgage company branch in Winkleigh. They can recommend conveyancing solicitors in Winkleigh on the bank panel.