My husband and I are acquiring a brand new duplex in Cirencester and my conveyancer is telling me that she is duty bound to the bank to disclose incentives from the developer. The Estate Agents are hassling me to exchange and my preference is not to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Forgive me if this question is silly but I am wet behind the ears as a first time buyer of a garden flat in Cirencester. Do I collect the keys to the house on the completion date from my conveyancer? If this is the case, I will use a local conveyancing solicitor in Cirencester?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s conveyancers, and shortly after the monies have arrived, you should be invited to pick up the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
We are getting a further advance on our mortgage from Aldermore as we want to carry out alterations to our house in Cirencester. Are we obliged to appoint a local Cirencester solicitor on the Aldermore conveyancing panel to deal with the paperwork?
Aldermore don't usually require a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
Last month we had a mortgage agreed in principle with Barclays. Cirencester conveyancing solicitors have been chosen. What is the average time that one could expect to receive a mortgage offer from Barclays?
Some lenders take longer than others. Have Barclays done the valuation? Have you advised Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Over the last few months I have been searching for a flat up to £305k and found one round the corner in Cirencester I like with a park and railway links nearby, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Cirencester suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
My company is looking to take over a lease of a shop on the high street. Can you recommend solicitors offering fixed costs for non-domestic conveyancing in Cirencester for under 1500k?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in Cirencester, including the sale and acquisition of businesses as well as simply premises. Whether you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right firm. As for the costs this will depend on the structure and heads of terms of the proposed transaction. Please provide us with your details or email so as to enable us to furnish you with comprehensive commercial conveyancing quote.
We are 17 days into a freehold purchase having been referred to a firm by the high street agent to handle our conveyancing in Cirencester. We are not happy. Can you help me find new conveyancers?
A solicitor would need to be really bad in order to consider changing them. Has the mortgage been generated? If so you need to advise them of the new contact details and get the mortgage documents are issued to the new lawyers. Your conveyancer should be on the banks panel to avoid added charges and frustration. That should be your first question of the new conveyancers. Our find a solicitor tool should help you find a bank approved conveyancer for your conveyancing in Cirencester
We are in the middle of purchasing a house in Cirencester. Conveyancing solicitor has called to say the property is "Leasehold". Will this likely make a difference on the salability of the property?
Cirencester conveyancing does not in most situations involve leasehold houses. The key factor here is the unexpired lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's essentially freehold, so it shouldn't impact the value too much.
At the other end of the spectrum, if it's, say, Sixty years it will have a significant effect on the saleability, and most likely wouldn't be acceptable to the mortgage company. The length of lease and ground rent will be specified in the lease to be supplied to your property lawyer.