I am expecting a mortgage with Nat West. I intend to enlist the help of a Licensed Conveyancer in Crowle. Does the Nat West Conveyancing panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I have given 8 weeks notice to my current landlord and must leave my rented apartment in Crowle by the end of next month. Conveyancing on my purchase is progressing. Can I complete in 5 weeks as don't want to have to find temporary accommodation?
The normal practice is not to give notice for your lease unless your lawyer suggests that you should. If you have not already done so, contact to your solicitor and request that they chase the sellers solicitors, try to an agreed time frame that all parties will aim towards
I'm purchasing my first flat in Crowle with a loan from Nottingham Building Society. The sellers would not reduce the price so I negotiated 6k of extras instead. The house builders rep told me not reveal to my lawyer about this extras as it could impact my loan with Nottingham Building Society. 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.
We're FTB’s - agreed a price, yet the property agent has warned us that the seller will only move forward if we instruct the agent's preferred lawyers as they need a ‘quick sale’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Crowle
We suspect that the seller is not behind this ultimatum. If they require ‘a quick sale', alienating a serious purchaser is going to damage their objectives. Try to communicate with the vendors directly and make the point that (a)you are motivated purchasers (b)you are ready to progress, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you are going to use your preferred Crowle conveyancing lawyers - as opposed tothose that will provide their negotiator at the agency a kickback or meet his conveyancing figures pre-set by corporate headquarters.
Can you provide any advice for leasehold conveyancing in Crowle from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Crowle can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers’ lawyers. If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in Crowle state that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord approving such changes. If you dont have the paperwork to hand you should not contact the landlord without contacting your lawyer in the first instance. A minority of Crowle leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. If you have had conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to ongoing. You believe that you know the number of years remaining on your lease but it would be advisable verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
I own a 1st floor flat in Crowle, conveyancing having been completed in 2009. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Crowle with an extended lease are worth £190,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2086
You have 61 years left to run the likely cost is going to range between £19,000 and £22,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
Is there a distinction between surveying and conveyancing in Crowle?
Conveyancing - in Crowle or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the purchase price down or asking the vendor to fix the problems prior to you move in.