Do I need to take out insurance to protect me from financial exposure to chancel repairs when acquiring a property in Hellesdon?
Unless a prior purchase of the house took place after 12 October 2013 you could assume that conveyancing practitioners handling conveyancing in Hellesdon to remain recommending a chancel search and or chancel repair liability insurance.
I am purchasing a new build house in Hellesdon with a mortgage from Godiva Mortgages Ltd. The sellers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not inform my lawyer about this deal as it would jeopardize my mortgage with the bank. Is this normal?.
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.
Should I be concerned about estate agents that I am dealing with are suggesting a nationwide conveyancing firm as opposed to a High Street Hellesdon conveyancing practice?
As is the case with many service providers, often recommendations from relatives can be worth their weight in gold. Nevertheless there are lots of players in a conveyancing transaction; estate agents, financial adviser and banks may put forward solicitors to select. On occasion these solicitors might be known to one of the organisations as being good in their field, but sometimes there exists a commercial relationship behind the recommendation. You are free to appoint your own lawyer. You need to be aware that most lenders have an approved list of law firms you are obliged to use for the lender related work in your transaction.
I am looking for a conveyancing practitioner in Hellesdon for my purchase. Is it possible to see a firm’s record with the profession’s regulator?
Anyone may find documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA sometimes monitor call for training purposes.
Can you offer any advice when it comes to appointing a Hellesdon conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Hellesdon conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Hellesdon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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What are the costs for lease extension conveyancing? How many lease extensions has the firm conducted in Hellesdon in the last twenty four months?
I invested in buying a garden flat in Hellesdon, conveyancing was carried out August 2007. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Hellesdon with an extended lease are worth £201,000. The ground rent is £45 per annum. The lease ends on 21st October 2090
With 65 years unexpired we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
At what stage do I cover the costs of the Stamp Duty Land Tax due for my Hellesdon property purchase?
Most conveyancing practitioners tend to fill out a Land Transaction Return Form for you as part of your Hellesdon purchase transaction for signature. After completion your property lawyer will submit your STL application to the Inland Revenue and - as long as they have the money - settle any tax bill due for you.