We are purchasing a newly built flat in Dursley and my lawyer is telling me that she is duty bound to the mortgage company to reveal incentives from the seller. I am on a tight deadline to sign contracts and I would rather not delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I need some expedited conveyancing in Dursley as I am under pressure to sign on the dotted line within one month. Luckily I do not need a mortgage. Can I avoid the conveyancing searches to save money and time?
If.Given you are are a mortgage free purchaser you are at liberty not to have searches conducted although no conveyancer would suggest that you don't. With plenty of history conveyancing in Dursley the following are instances of what can be revealed and therefore affect future mortgageability: Enforcement Actions, Outstanding Fees, Overdue Grants, Railway Schemes,...
Just had an offer accepted on a new build apartment in Dursley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Dursley
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am looking for a leasehold apartment up to £305k and identified one round the corner in Dursley I like with open areas and railway links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Dursley suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
We are 14 days into a leasehold purchase having been referred to a firm by the estate agent to carry out the conveyancing in Dursley. We are not happy. Could you help me find new lawyers?
They would have to be very poor to suggest diss instructing them. Has your loan offer been issued? In the event that it has you will need to make them aware of the new contact details and have the mortgage documents are re-sent. Your conveyancer needs to be on the banks approved list to avoid added charges and complications. So that should be your first question of the new solicitors. Our search tool will assist you in finding a lender approved conveyancer for your conveyancing in Dursley
We are soon to purchasing a apartment in Dursley. Conveyancing is not over but we wish to keep our transaction price confidential from sites such as Rightmove. How do I make sure this is not disclosed?
HMLR as a matter of law obliged to disclose price paid information on a register of the title for domestic properties countrywide which includes premises in Dursley. The register of ownership is an open document, so HMLR would be breaking the law if they did not grant access to the register.
You can make a request of the Land Registry to withhold the amount paid entry yet the response would be in the negative.