I am buying my first flat in East Grinstead with a loan from Lloyds TSB Bank. The builders refused to reduce the price so I negotiated 6k of additionals instead. The sale representative suggested that I not reveal to my solicitor about the side-deal as it could affect my mortgage 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.
I have been on the look out for a flat up to £305k and found one round the corner in East Grinstead I like with a park and transport links in the vicinity, however it's only got 61 remaining years left on the lease. There is not much else in East Grinstead suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the price by the amount the 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 could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Should I be suspicious that third parties that I am dealing with are recommending an online conveyancing firm as opposed to a local East Grinstead conveyancing firm?
As is the case with lots of service providers, often suggestions from connections can be very helpful. But there are lots of people with a keen interest in a conveyancing deal; estate agents, financial adviser and mortgage companies might all suggest lawyers to use. Sometimes these solicitors might be known to one of the organisations as experts in their field, but sometimes there is an underlying financial incentive behind the endorsement. You are free to select your own lawyer. However, bear in mind that the majority of mortgage providers specify a panel list of solicitors you are obliged to use for the mortgage related work in your home move.
I need to find a conveyancing solicitor for residential conveyancing in East Grinstead. I have discover a site which appears to be the perfect solution If there is a chance to get all formalities completed via web that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have recently realised that I have Seventy years left on my lease in East Grinstead. I now wish to extend my lease but my landlord is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you have done all that could be expected to find the freeholder. For most situations a specialist would be useful to carry out a search and prepare an expert document which can be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court covering East Grinstead.
East Grinstead Leasehold Conveyancing - Examples of Queries before buying
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Make sure you investigate if there are any onerous prohibitions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in East Grinstead. If you like the propertyin East Grinstead but your dog can’t live with you then you have a very hard determination. On the whole the outlay for major works tend not to be included within maintenance charges, albeit that some managing agents in East Grinstead obliged leaseholders to contribute towards a reserve fund created for the specific purpose of establishing a fund for major works. Are any of leasehold owners in dispute over their service charge payments?
Been looking for a solicitor for leasehold sale conveyancing in East Grinstead. I'm selling, simple no mortgage to discharge, no rush, currently vacant. Received a quote from a property lawyer for £900 excluding VAT which is a little high considering its so straightforward. Is it possible to find less expensive fees for conveyancing in East Grinstead?
Given that it’s a sale only, £500 + VAT would be about the best for a East Grinstead solicitor firm.