We are only a couple days away from an exchange on a house in Calstock and my parents have sent the exchange deposit to my property lawyer. I am now told that as the deposit has not arrived from me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your lawyer is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We are looking to buy a property and require a conveyancing solicitor in Calstock who is on the Principality solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality . We don't recommend any particular firms conducting conveyancing in Calstock.
I am purchasing my first flat in Calstock with a mortgage from Birmingham Midshires. The sellers would not move on the amount so I negotiated £7000 of additionals instead. The house builders rep told me not to tell my solicitor about the side-deal as it would jeopardize my mortgage 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one round the corner in Calstock I like with a park and railway links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Calstock for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
My business partner and I are planning to take an assignment of a lease of a shop on the high street. Can you recommend conveyancers offering no-sale-no costs for non-domestic conveyancing in Calstock for below £2000?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Calstock, including the sale and purchase of businesses as well as simply premises. If you are looking to buy or lease a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right lawyer. As for the charges this will depend on the structure and complexity of the deal. Let us have your details or telephone us so that we can supply you with a fixed commercial conveyancing calculation.
How and when do I pay stamp duty chargeable for my house transaction in Calstock?
Your conveyancer should fill out a Land Transaction Return Form for you as part of your Calstock conveyancing transaction for you to sign. On completion your conveyancing practitioner will submit your Land Transaction application to the Inland Revenue and - as long as they have the funds - settle any tax bill liability for you.