My wife and I are soon to exchange on the purchase of a house in Gerrards Cross but as a consequence of wreckage from a small fire at the property I have was able negotiate recompense from the current proprietors in the sum of £2k in the form of a reduction in the price. This was going to be addressed as part of a side agreement but Leeds Building Society will not agree to this. Should they have been notified?
Your conveyancing practitioner being on the Leeds Building Society conveyancing panel is obliged to disclose to Leeds Building Society of any variations to the purchase price. If you prohibit your property lawyer to notify the price change to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new solicitor for your conveyancing in Gerrards Cross.
What is the first thing I need to know regarding purchase conveyancing in Gerrards Cross?
Not many law firms shout this from the rooftops but conveyancing in Gerrards Cross or throughout Buckinghamshire is often a confrontational experience. Put another way, when it comes to conveyancing there is plenty of room for confrontation between you and other parties involved in the home moving process. For instance, the vendor, estate agent and on occasion the mortgage company. Choosing a law firm for your conveyancing in Gerrards Cross should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the legal process whose responsibility is to act in your legal interests and to protect you.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. You your first instinct should be to trust your lawyer ahead of the other parties in the conveyancing process.
I am purchasing my first flat in Gerrards Cross with a loan from TSB. The builders refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent told me not inform my conveyancer about the side-deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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.
Due to the input of my in-laws I had a survey completed on a property in Gerrards Cross ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders may not issue a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Halifax. Should you wish to call us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Gerrards Cross. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Gerrards Cross to see if the conveyancing costs will increase in light of this.
I'm remortgaging my current property to a buy to let loan with The Royal Bank of Scotland and intend to use the remaining equity as a down payment on another property. The neighborhood we are talking about is Gerrards Cross. Will your conveyancers be able to act for the two banks and tie in the conveyances?
Make use of our search tool on this page to check that the conveyancers are on the relevant lender panels. Having checked that they are the solicitor will be able to tie up the two conveyancing matters but you should talk with you conveyancer and make apparent your desired outcome and needs.
Helen (my wife) and I may need to sub-let our Gerrards Cross basement flat for a while due to a career opportunity. We used a Gerrards Cross conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
Notwithstanding that your previous Gerrards Cross conveyancing solicitor is no longer available you can review your lease to see if you are permitted to let out the property. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you must obtain permission from your landlord or some other party in advance of subletting. This means you not allowed to sublet in the absence of first obtaining permission. The consent should not be unreasonably turned down. If your lease does not allow you to sublet you will need to ask your landlord if they are willing to waive this restriction.
I am the proprietor of a ground-floor 1960’s flat in Gerrards Cross. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to judgment on the price.
An example of a Lease Extension decision for a Gerrards Cross residence is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The remaining number of years on the lease was 71 years.