I am hoping to receive a mortgage with Halifax. I would like to use a Licensed Conveyancer in Acocks Green. Does the Halifax Conveyancing panel allow for conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
We're in Acocks Green, FTBs purchasing with a mortgage (lender is HSBC , and our lawyer is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm buying my first flat in Acocks Green benefiting from help to buy. The developers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my solicitor about the side-deal as it could put at risk my loan with the lender. 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.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one near me in Acocks Green I like with amenity areas and railway links nearby, however it only has 61 years on the lease. There is not much else in Acocks Green for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I need to find a conveyancing solicitor for residential conveyancing in Acocks Green. I've land on a web site which appears to be the perfect answer If there is a chance to get all formalities done via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am intending to rent out my leasehold apartment in Acocks Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Even though your previous Acocks Green conveyancing solicitor is no longer available you can check your lease to check if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. There may be a precondition that you are obliged to obtain consent from your landlord or some other party in advance of subletting. This means you not allowed to sublet without first obtaining consent. Such consent is not allowed to be unreasonably refused ore delayed. If the lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I invested in buying a split level flat in Acocks Green, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Corresponding flats in Acocks Green with an extended lease are worth £180,000. The ground rent is £65 yearly. The lease terminates on 21st October 2084
With only 58 years unexpired we estimate the price of your lease extension to span between £22,800 and £26,400 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.