The owners have rather pushy vendors who has suggested a lock out contract with a payment 10k. Are such contracts recommended for Clent conveyancing transactions?
This type of preliminary agreement isn't common in Clent, conveyancers will often try and steer clients away from them as they detract from the primary objective, namely conveyancing and if you end up losing your deposit then the solicitor is left exposed. Secondly, there is no guarantee that just because the seller has entered into a lock out contract they will complete the sale with you. They may be tempted to break the agreement if they are offered a large enough offer to do so because a wronged claimant with the benefit of a exclusivitycontract will still have to establish consequential losses from the breach and these may not equalise the financial upside that the owner may secure by reneging on the agreement, no matter how morally shameful that may be.
The deeds to our house are lost. The solicitors who did the conveyancing in Clent 5 years ago have long since closed. Will I be able to sell the house?
You no longer need to hold title original deeds to establish that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
I'm purchasing my first flat in Clent with the aid of help to buy. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not reveal to my conveyancer about this side-deal as it will affect my mortgage with the lender. 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Clent before retaining lawyers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks tend refuse to grant a mortgage on such a home.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Clent. Conveyancing will be smoother if you use a solicitor in Clent especially if they regularly deal with such properties in Clent.
What makes a Clent lease unmortgageable?
There is nothing unique about leasehold conveyancing in Clent. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have 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. Yorkshire Building Society, The Royal Bank of Scotland, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
I invested in buying a 2 bed flat in Clent, conveyancing was carried out in 2012. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Clent with over 90 years remaining are worth £186,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2078
With 53 years remaining on your lease we estimate the price of your lease extension to range between £27,600 and £31,800 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
What type of property do your Clent conveyancing estimates relate to?
The quotes provided are only applicable to standard residential property in England & Wales. If you have any different requirements for example industrial or agricultural land or commercial conveyancing in Clent you should contact us to discuss your requirements .