My wife and I are about to exchange on the purchase of a house in Cricklewood but as a consequence of wreckage from the recent storms I have managed to agree reparation from the current proprietors in the sum of six thousand pounds in the form of a reduction in the price. This was going to be addressed as part of amending the contract however Nottingham are not allowing this. Should they have been involved?
The solicitor being on the Nottingham conveyancing panel is required to disclose to Nottingham of any changes to the purchase price. If you prohibit your lawyer to notify the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new conveyancing practitioner for your conveyancing in Cricklewood.
Is there a reason why leasehold purchase conveyancing in Cricklewood is more expensive?
Cricklewood leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would much rather instruct a high street conveyancing solicitor in Cricklewood?
Do check but the chances are that appoint one of their panel conveyancers if you want the "fee-free" deal. Contact the lender to check if they offer you a monetary alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Cricklewood.
Have purchased a a terraced house in Cricklewood , how long will it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Cricklewood conveyancing solicitor works at snail pace, so I want to be certain that my ownership is registered.
There is nothing unique when it comes to conveyancing in Cricklewood registration formalities. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether it is in order and if the Land registry communicate with any third parties. At present approximately three quarters of such applications are fully addressed in less than three weeks but some can be subject to protracted delays. Historically registration takes place once the purchaser is living at the property thus an expedited registration is not always an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I'm buying my first flat in Cricklewood with the aid of help to buy. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not disclose to my conveyancer about the deal as it would affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 £305k and found one close by in Cricklewood I like with open areas and transport links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Cricklewood in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.