I am buying a new build duplex in Highworth and my solicitor is informing me that she is duty bound to the lender to reveal incentives from the developer. I am nearing the developer’s deadline to exchange and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I had intended to instruct a conveyancing solicitor in Highworth for our home move. Our broker has since advised us that our bank The Mortgage Works won't deal with them. Surely this is unfair competition?
A bank will direct that an approved conveyancer act for it. Borrowers are expected to meet the cost of this. Please make use of our database to locate a solicitor to conduct conveyancing in Highworth on the The Mortgage Works approved list of solicitors.
I have justfound out that Arc property Solicitors have closed. They conducted my conveyancing in Highworth for a purchase of a leasehold apartment 12 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The quickest method to see if the property 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 Highworth conveyancing specialists.
I'm purchasing my first flat in Highworth with a mortgage from Bank of Ireland. The builders would not budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not to tell my solicitor about this deal as it would affect my mortgage 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.
We expect to complete our sale of a £225,000 maisonette in Highworth next week. The management company has quoted £420 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Highworth?
For most leasehold sales in Highworth conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering pre-exchange questions
Where consent is required before sale in Highworth
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Highworth Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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It would be wise to discover if the the lease includes any adverse restrictions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Highworth. If you love the propertyin Highworth yet your cat can’t make the move with you then you have a very hard choice. How much is the yearly maintenance fee and ground rent? Does the lease have onerous restrictions?
I am an executor of my recently deceased aunt’s Will, with a property in Highworth which will be sold. The property has never been registered at HMLR and I'm advised that some estate agents will insist that it is completed before they will proceed. What's the mechanism for this?
In the circumstances that you have set out it seems sensible to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.