I happen to be the only recipient of my late father’s will and I have everything in my name now, including the my former home in Fenstanton. The Fenstanton property was put into my name in October. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the property in October. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. many lenders would take a sensible view as this clause primarily exists to pick up on subsales or the quick reselling of property.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Fenstanton building society branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Fenstanton conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Planning on purchasing a apartment in Fenstanton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Fenstanton conveyancer is on the Coventry BS conveyancing panel.
I am purchasing a property and the conveyancer has identified Chancel Repair to which the property could be liable given it’s proximity to the area of such a church. He has suggested insurance. Is this strictly required for conveyancing in Fenstanton
Unless a prior purchase of the property completed post 12 October 2013 you can take it that conveyancing practitioners conducting conveyancing in Fenstanton to continue to propose a a chancel search and or insurance against a claim.
I have justbeen informed that Stirling Law have closed. They carried out my conveyancing in Fenstanton for a purchase of a leasehold flat 9 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Fenstanton conveyancing specialists.
I'm buying my first flat in Fenstanton with the aid of help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not reveal to my lawyer about this side-deal as it would affect my loan with the lender. 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.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Fenstanton I like with amenity areas and transport links in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Fenstanton in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan that many years may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
In searching the web for the phrase on line conveyancing in Fenstanton it brings up many property lawyersin the vicinity. With so much choice what is the best way to find the right property lawyer for me?
The ideal method of choosing a suitable conveyancer is through a trusted referral, so enquire of colleagues and relatives who have purchased a property in Fenstanton or the reputable estate agent or financial adviser. Charges for conveyancing in Fenstanton differ, so it's a good idea to request a minimum of four quotes from different property lawyers. Dont forget to clarify that the costs are guaranteed not to escalate.