Various internet forums that I have visited warn that are the number one reason for delay in Harwich conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Harwich.
I'm buying my first flat in Harwich benefiting from help to buy. The sellers would not move on the price so I negotiated 6k of additionals instead. The sale representative suggested that I not inform my lawyer about this extras as it would impact my loan with Chelsea Building Society. 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 encouragement of my in-laws I had a survey completed on a property in Harwich before retaining solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some banks will refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Harwich. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Harwich to see if the conveyancing will be more expensive.
Do I need to be wary about estate agents that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a local Harwich conveyancing company?
As with many professional services, often referrals from family and friends can be most helpful. Yet there are numerous players in a conveyancing matter; estate agents, mortgage brokers and banks may suggest conveyancers to instruct. Sometimes the lawyers might be known to one of the organisations as being good in their field, but sometimes there exists a financial incentive behind the endorsement. You are free to select your own lawyer. You need to be aware that the majority of lenders have an approved list of solicitors you have to use for the lender aspect of your transaction.
Due to sign contracts shortly on a leasehold property in Harwich. Conveyancing solicitors have said that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Harwich should include some of the following:
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You should know whether the lease permits you to add or upgrade anything in the flat- you should be made aware as to whether any restrictions relates to all alterations or limited to structural alteration, and whether permission is required What options are available to the landlord where you breach a clause of your lease? Does the lease prevent you from letting out the flat, or having a home office for business Information concerning the obligations in the lease to pay service charges - in relation to the building, and the wider rights a leaseholder has Who has the liability for repairing the window frames
I invested in buying a 1st floor flat in Harwich, conveyancing was carried out in 2006. How much will my lease extension cost? Corresponding properties in Harwich with over 90 years remaining are worth £180,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2083
With just 58 years remaining on your lease we estimate the premium for your lease extension to be between £21,900 and £25,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.
Is it necessary during the course of the conveyancing process to attend the offices of the lender conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Harwich as it will be easier to pop in to their offices if required.
Most conveyancing panel lawyers for the mortgage company undertake conveyancing via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Harwich. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.