We are acquiring a newly built flat in Cuckfield and my lawyer is telling me that she is duty bound to the bank to disclose incentives from the builder. I am under pressure to exchange and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Cuckfield last February but my buyer keeps SMS messaging every few hours complaining that their lawyer is waiting to hear from mine. What should my lawyer have done now that I have sold?
Post completion of your disposal your lawyer is committed to deliver the transfer deeds and all supplemental paperwork to the purchaser's solicitors. If applicable, your solicitor must also evidence that the home loan has been redeemed to the purchasers lawyers. There are no post completion procedures specific conveyancing in Cuckfield.
I need some quick conveyancing in Cuckfield as I have an ultimatum to sign on the dotted line within 2 weeks. Fortunately I do not need a mortgage. Can I escape the need for conveyancing searches to save money and time?
As you are are a mortgage free purchaser you are at liberty not to have searches carried out although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Cuckfield the following are examples of issues that can show up and therefore impact the marketability of the property: Enforcement Actions, Overdue Charges, Overdue Grants, Road Schemes,...
I am buying a new build house in Cuckfield with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not to tell my solicitor about this side-deal as it will adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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.
Am I best advised to instruct a Cuckfield conveyancing solicitor who is local to the property I am buying? I have an old university friend who can perform the legal work but her office is over three hundred kilometers drive away.
The benefit of a local Cuckfield conveyancing firm is that you can visit the firm to execute documents, present your ID and apply pressure on them if necessary. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and the majority were happy that should trump using an unfamiliar Cuckfield conveyancing lawyer solely due to them being Cuckfield based.
I have recently realised that I have 62 years remaining on my flat in Cuckfield. I now want to extend my lease but my freeholder is missing. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the freeholder. For most situations a specialist would be useful to conduct investigations and prepare a report to be used as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on proving the landlord’s absence and the vesting order request to the County Court overseeing Cuckfield.
I own a leasehold flat in Cuckfield, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Cuckfield with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 levied per year. The lease comes to an end on 21st October 2103
With just 78 years left to run we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.