Do the conveyancing lawyers that you recommend handle attended exchange conveyancing in Grantham?
We do have a number of conveyancing specialists who can conduct one day exchanges. You should e-mail us to receive a conveyancing quote and details as to dates.
I'm buying a new build house in Grantham with a loan from TSB. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not disclose to my solicitor about the side-deal as it may jeopardize my mortgage 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.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Grantham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Grantham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Grantham you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grantham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What does commercial conveyancing in Grantham cover?
Grantham conveyancing for business premises covers a wide range of guidance, given by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
My brother has suggested that I instruct his conveyancers in Grantham. Do I take his recommendation?
Much as we are happy to recommend a Grantham conveyancing lawyer it’s preferable to select a conveyancing lawyer is to get guidance from friends or relatives who have actually used the firm you're contemplating using.
I am employed by a busy estate agency in Grantham where we see a few leasehold sales jeopardised as a result of short leases. I have received conflicting advice from local Grantham conveyancing solicitors. Can you clarify whether the seller of a flat can start the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Grantham Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
-
If a Grantham lease has less than eighty years it will affect the value of the flat. Check with your mortgage company that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. Remember, in most cases you will be be obliged to have been the owner of the property for a couple of years before you are entitled to extend the lease. Be sure to enquire if there are any onerous prohibitions in the lease. For instance it is reasonably common in Grantham leases that pets are not permitted in in a block in Grantham. If you like the propertyin Grantham but your dog can’t make the move with you then you will be faced difficult decision. Most Grantham leasehold apartments will be liable to pay a service charge for the upkeep of the block levied on behalf of the freeholder. If you acquire the apartment you will have to meet this liability, usually in instalments accross the year. This could differ from a few hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all probability there will be a rentcharge for you to pay annual, this is usually not a exorbitant figure, say around £50-£100 but you need to enquire it because sometimes it can be prohibitively expensive.