I have an AIP. The bank mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would much rather use a Drakes Cross based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel conveyancers where you take up the "fee-free" offer. Call the lender to determine if they offer you a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Drakes Cross.
What is the difference between a licensed conveyancer and conveyancing solicitor in Drakes Cross
There are two types of lawyers who can do conveyancing in Drakes Cross namely CLC regulated conveyancers or solicitors. Both professionals handle the legal services that required to complete the disposal or acquisition of property. Both are obliged to execute Drakes Cross conveyancing on similar standards and guidelines so you can be sure that your conveyancing will be professionally carried out and that the requisite steps should be accurately adhered to.
My wife and I are in the throws of viewing houses in Drakes Cross and I am now considering a potential offer. Should I already have a solicitor appointed at this point? I will be getting a mortgage with Leeds Building Society.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are getting a mortgage with Leeds Building Society, make sure you remember to check that your lawyer is on the Leeds Building Society conveyancing panel.
After weeks of negotiation I have agreed a price on an apartment in Drakes Cross. My financial adviser suggested a solicitor. I paid an upfront payment of £200. Soon after, the conveyancer called me sheepishly admitting that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My colleague recommended that where I am buying in Drakes Cross I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Drakes Cross conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Drakes Cross around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Drakes Cross Education with plans and statistics, Local Amenities and other useful information concerning Drakes Cross.
I'm buying a new build house in Drakes Cross benefiting from help to buy. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my lawyer about this extras as it will affect my loan with the bank. Should I keep quiet?.
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.
As co-executor for the estate of my grandmother I am disposing of a residence in Swansea but I am based in Drakes Cross. My solicitor (who is 235 miles awayrequires that I execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing lawyer in Drakes Cross to attest and place their company stamp on the document?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are based in Drakes Cross
I am looking at a two flats in Drakes Cross both have in the region of fifty years remaining on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Drakes Cross. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the marketability of the lease reduces and results in it becoming more costly to extend the lease. This is why it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We advise that you seek professional assistance from a conveyancer and surveyor with experience in this arena.
I invested in buying a basement flat in Drakes Cross, conveyancing having been completed September 2000. How much will my lease extension cost? Comparable flats in Drakes Cross with a long lease are worth £206,000. The ground rent is £45 invoiced every year. The lease comes to an end on 21st October 2091
With just 66 years remaining on your lease we estimate the premium for your lease extension to range between £11,400 and £13,200 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues 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 before seeking the advice of a professional.