I am helping my aunt sell her property in Braunstone. Will the conveyancer commission the energy assessment or do I organise this?
After the demise of Home Packs, EPC’s was retained a required element of moving house. An EPC should be to hand prior to the property being marketed. It is not as aspect of the sale process that conveyancers ordinarily arrange. Where you are using a Braunstone conveyancing lawyer they might be willing to arrange energy performance certificates due to their relationships with long established local providers
Planning on purchasing a house in Braunstone. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC 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 Braunstone property lawyer is on the HSBC conveyancing panel.
My offer on a semi in Braunstone has been accepted, but there is a chain. The sellers have offered on on an apartment, however it’s not yet tied up, and are looking at other flats booked. I have instructed a nearby conveyancing solicitor in Braunstone. What do I do now? When should I get the mortgage application with TSB started?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then survey, Braunstone conveyancing search costs, etc). First, you must ensure that your lawyer is on the TSB conveyancing panel. Concerning the next phase this very much depends on the specifics of your transaction, desire for this property and on the state of the market. During a buoyant market some buyers would apply for a home loan with TSB and pay for the valuation and only if it was satisfactory would they ask their solicitor to move forward with searches.
I have todaybecome aware that Stirling Law have been shut down. They conducted my conveyancing in Braunstone for a purchase of a leasehold apartment 18 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest method to see if the property is registered to you, you can make 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 Braunstone conveyancing specialists.
I am buying my first flat in Braunstone with a loan from Lloyds TSB Bank. The developers refused to budge the amount so I negotiated £7000 of additionals instead. The property agent told me not disclose to my lawyer about the deal as it may jeopardize my loan with the bank. Is this normal?.
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.
I am looking for a flat up to £195,000 and found one close by in Braunstone I like with amenity areas and railway links in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in Braunstone suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Should I be suspicious about estate agents that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a local Braunstone conveyancing company?
As is the case with many professional services, often recommendations from family and friends can be extremely useful or valuable. But there are lots of parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all put forward lawyers to use. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there is an underlying financial incentive behind the recommendation. You have the discretion to choose your own lawyer. However, bear in mind that many lenders operate an approved list of conveyancers you have to use for the lender aspect of your house move.
Estate agents have just been given the go-ahead to market my ground floor apartment in Braunstone. Conveyancing has not commenced, however I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the invoice as usual because all ground rent and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the registered owner of a studio flat in Braunstone, conveyancing having been completed 8 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Braunstone with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 per annum. The lease comes to an end on 21st October 2094
With 69 years unexpired the likely cost is going to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.