Completed the sale of my flat in Alnmouth last June but my buyer keeps texting every few hours to say their conveyancer needs to hear from mysolicitor. What are the post completion sale legalities following completion?
Following your disposal your conveyancer is obliged to forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer must also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers conveyancers. There is unlikely to be post completion tasks just for conveyancing in Alnmouth.
We are purchasing a house and the solicitor has referenced Chancel Repair for which the house could be obligated to pay as it falls into the area of such a church. He has suggested insurance. Is this strictly appropriate for conveyancing in Alnmouth
Unless a previous acquisition of the premises took place after 12 October 2013 you could expect lawyers conducting conveyancing in Alnmouth to continue to advocate a chancel search and or chancel repair liability insurance.
I have recentlyfound out that Wolstenholmes have closed. They carried out my conveyancing in Alnmouth for a purchase of a leasehold apartment 12 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 premises is in your name, you can carry out 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 Alnmouth conveyancing specialists.
I am purchasing a new build house in Alnmouth with the aid of help to buy. The developers would not budge the price so I negotiated 6k of additionals instead. The estate agent suggested that I not to tell my solicitor about this extras as it may adversely affect my mortgage with Clydesdale. 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.
I'm refinancing my primary property to a BTL mortgage with Coventry Building Society and intend to use the remaining equity as a deposit on a second property. The location we are looking at is Alnmouth. Will your solicitors be able to act for both sets of mortgage companies and tie in the transactions?
Make use of our comparison tool on this site to be sure that the lawyers are on the appropriate lender panels. Assuming that they are the lawyer will be able to connect the two deals but you should talk with you solicitor and communicate your expectations and needs.
I work for a long established estate agent office in Alnmouth where we have witnessed a few leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Alnmouth conveyancing solicitors. Please can you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I invested in buying a 1 bedroom flat in Alnmouth, conveyancing formalities finalised 7 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Alnmouth with over 90 years remaining are worth £201,000. The ground rent is £45 charged once a year. The lease runs out on 21st October 2089
With just 64 years remaining on your lease we estimate the price of your lease extension to range between £14,300 and £16,400 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.