I am acquiring a newly constructed flat in Bagshot and my lawyer is telling me that she has to the mortgage company to reveal incentives from the developer. I am nearing the developer’s deadline to exchange and I have no desire to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Despite weeks of looking the Title Certificate and documents to our property are lost. The solicitors who conducted the conveyancing in Bagshot 10 years ago are no longer around. What do I do?
You no longer need to have the physical original deeds to prove you are the owner of your registered land or property, as the Land Registry hold details of all registered land or property electronically.
I'm buying my first flat in Bagshot with the aid of help to buy. The developers would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about this side-deal as it could put at risk my loan with the bank. Do I keep my lawyer in the dark?.
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.
Due to the input of my in-laws I had a survey completed on a property in Bagshot ahead of retaining solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some lenders will not grant a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bagshot. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bagshot to see if the conveyancing will be more expensive.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Bagshot and how can you help?
The particular law that you refer to gives security of tenure to business leaseholders, granting the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Bagshot is one of our many areas of the UK in which the firms we work with are based
We're first time buyers - agreed a price, yet the agent told us that the seller will only proceed if we use the agent's preferred solicitors as they need an ‘expedited deal’. We would rather use a high street conveyancer who is accustomed to conveyancing in Bagshot
We suspect that the seller is not behind this ultimatum. Should the owner desire ‘a quick sale', turning down a genuine buyer is not the way to achieve this. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to appoint your preferred Bagshot conveyancing lawyers - not the ones that will give the negotiator at the agency a referral fee or meet his conveyancing thresholds demanded by corporate headquarters.