Various online forums that I have frequented warn that are a common cause of stalling in Arkley house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Arkley.
Me and my brother purchased a 4 bedroom Georgian property in Arkley. Conveyancing solicitor represented me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Arkley and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing solicitor who conducted the work.
I'm purchasing my first flat in Arkley benefiting from help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not to tell my solicitor about the deal as it will adversely affect 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.
I decided to have a survey completed on a house in Arkley prior to instructing lawyers. I have been informed that there is a flying freehold element to the house. My surveyor advised that some banks will not grant a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Arkley. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it best to instruct a Arkley conveyancing solicitor in close proximity to the house I am purchasing? We have a good friend who can perform the conveyancing however her office is over three hundred kilometers drive away.
The primary upside of using a local Arkley conveyancing firm is that you can visit the firm to execute documents, deliver your identification documents and pester them if necessary. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and on the whole were impressed that should surpass using an unfamiliar Arkley conveyancing lawyer just because they are round the corner.
What can I do to determine who is the owner of a property in Arkley?
Assuming that the property is registered with HM Land Registry, and you have requisite details of the address of the premises, you should be able to obtain details from the HM Land Registry of the recorded owner for a for less than a fiver.