We are acquiring a newly constructed flat in Aldershot and my lawyer is informing me that she is duty bound to the mortgage company to reveal incentives from the builder. I am nearing the developer’s deadline to exchange and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I used Action Conveyancing several years ago for my conveyancing in Aldershot. Now, I need the files but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Aldershot of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in Aldershot benefiting from help to buy. The developers would not budge the amount so I negotiated £7000 of extras instead. The property agent advised me not inform my lawyer about the deal as it will impact my mortgage with Leeds Building Society. Should I keep quiet?.
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.
Due to the encouragement of my in-laws I had a survey completed on a property in Aldershot in advance of retaining solicitors. I have been advised that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may not grant a loan on this type of house.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you contact us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Aldershot. Conveyancing will be smoother if you use a solicitor in Aldershot especially if they are familiar with such properties in Aldershot.
How do I use your search tool to find a conveyancing lawyer in Aldershot on the authorised to act for my mortgage?
1st select a lender such as National Westminster Bank, Virgin Money or Barclays Direct then choose your location e.g. Aldershot. Conveyancing organisations in Aldershot and across England and Wales should be listed.
My husband and I may need to let out our Aldershot garden flat for a while due to a new job. We used a Aldershot conveyancing firm in 2002 but they have since shut and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Aldershot do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I inherited a 1st floor flat in Aldershot, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Aldershot with over 90 years remaining are worth £202,000. The average or mid-range amount of ground rent is £60 yearly. The lease finishes on 21st October 2082
With only 56 years remaining on your lease the likely cost is going to range between £29,500 and £34,000 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 the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.