I am buying my first flat in Camberley with a mortgage from Virgin Money. The sellers would not move on the amount so I negotiated 6k of additionals instead. The house builders rep told me not disclose to my conveyancer about the deal as it would impact my loan with the bank. Should I keep quiet?.
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 have been on the look out for a ground for flat up to £245,000 and identified one close by in Camberley I like with amenity areas and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Camberley for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the remaining unexpired lease term will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
My business partner and I are looking to lease a unit on a shopping parade. Can you recommend conveyancers offering no-sale-no costs for non-domestic conveyancing in Camberley for below £1,200?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Camberley, including the sale and acquisition of businesses as well as simply premises. If you are hoping to purchase or dispose of a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right lawyer. Regarding the costs this will depend on the structure and complexity of the proposed transaction. Please provide us with your contact information or email so as to enable us to supply you with a detailed commercial conveyancing calculation.
I need to instruct a conveyancing practitioner in Camberley for my sale. Is there any facility to review a firm’s complaints history with the profession’s regulator?
Members of the public can see published Solicitor Regulator Association (SRA) determinations stemming from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator could recorded telephone calls for training purposes.
What makes a Camberley lease problematic?
Leasehold conveyancing in Camberley is not unique. All leases are drafted differently and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:
-
Service charge per centages that don't add up correctly leaving a shortfall A duty to insure the building
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. HSBC Bank, Skipton Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.
Leasehold Conveyancing in Camberley - A selection of Queries Prior to Purchasing
-
Is there a share of the freehold? This information is important as a) areas could cause problems for the building as the communal areas may begin to deteriorate where repairs are not paid for b) if the leaseholders have an issue with the running of the building you will wish to have all the details The best form of lease structure is a share of the freehold. In this arrangement the lessees benefit from control and notwithstanding that a managing agent is often employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
I pay a maintenance contribution for my flat in Camberley. As a result of poor financial planning I fell behind with payments. I negotiated a settlement plan but there is still a couple of outstanding at the current time.
I am under pressure to sell and I am concerned this can hold me back if I have to pay off the arrears in advance. Do I have to settle before - is this viable?
Your conveyancing practitioner will hopefully be able to negotiate with the management company, and agree with them whether or not they would accept settlement out of the completion monies. Here is indicative of why it might be good to instruct a solicitor in Camberley as they may well have an open line of communication with the parties.