About to purchase flat in Benson. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Benson conveyancing practitioner is on the Aldermore conveyancing panel.
I've read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Benson solicitor - who is on the Nottingham conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Benson surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Principality have agreed my home loan in principle, my bid on a house in Benson has been agreed to, what happens next?
The property agent will want to know who your solicitors are (be sure the solicitors are on the lender’s approved list). Contact Principality or your broker and complete any outstanding forms. Principality will appoint a valuer who will get in contact with the selling agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Principality will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Benson.
My colleague advised me that if I am buying in Benson I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Benson conveyancing searches. It is not a small report of more than thirty pages, listing and setting out important information about Benson around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Benson Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Benson Education with plans and statistics, Local Amenities and other useful data about Benson.
Just had an offer accepted on a new build apartment in Benson. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Benson
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Due to the encouragement of my in-laws I had a survey completed on a house in Benson in advance of appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some banks may refuse to grant a loan on such a property.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Benson. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Benson to see if the conveyancing costs will increase in light of this.
What tools are available to identify a Benson law firm on the Chelsea Building Society conveyancing panel? I drive a motor bike and am willing to travel upto 10miles to meet the solicitor.
Feel free to make use of the search on this page. Please select a mortgage company and your location and you will see a number of Benson conveyancing lawyers locally. We have listed some Benson conveyancing firms at the bottom of this page and you can call them to check whether they are on the Chelsea Building Society approved list
I am a negotiator for a busy estate agent office in Benson where we have witnessed a few flat sales jeopardised due to short leases. I have received conflicting advice from local Benson conveyancing solicitors. Can you shed some light as to whether the owner of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible 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.
Benson Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
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What is the service charge and ground rent on the apartment? Is anyone aware of any major works in the near future that will likely increase the maintenance costs?