IfI were to purchase a straightforward housein Hinton St George mortgage fee and dispense with a survey and no local authority searches how much should I expect to have to pay for conveyancing in Hinton St George?
Any savings you would achieve will be isolated to the Hinton St George conveyancing searches. Your conveyancer is required to do the vast majority of work - money laundering, liaising with your vendors property lawyer, stamp duty submission, register the title etc. A slight saving might be made by not having to register a charge however it will not be a lot.
My partner and I are in the process of looking at apartments in Hinton St George and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a mortgage with RBS.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are getting a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
I have a mortgage with TSB for my property in Hinton St George. Conveyancing has been completed some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform TSB?
TSB must be informed of your intention before renting your property as this is likely to be a breach of TSB’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. You need not do this via a TSB conveyancing panel lawyer.
RBS have agreed my home loan in principle, my offer on a house in Hinton St George has been agreed to, what happens next?
Your property agent will need to know who your solicitors are (make sure the solicitors are on the lender’s approved list). Telephone RBS or your financial adviser and finish off any appropriate documentation. RBS will instruct a valuer who will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. RBS will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Hinton St George.
I am buying a new build house in Hinton St George with a mortgage from Aldermore. The developers would not move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not reveal to my solicitor about the extras as it would put at risk my loan with Aldermore. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Hinton St George is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hinton St George are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hinton St George you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hinton St George 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.
I was advised by two or three local property agents in Hinton St George to find a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to recommend your services over and above alternative conveyancing organisations?
We don’t offer any commission for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I work for a reputable estate agent office in Hinton St George where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have been given contradictory information from local Hinton St George conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension formalities for the buyer?
Provided that the seller has been the owner 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. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 purchaser.
I purchased a 1 bedroom flat in Hinton St George, conveyancing formalities finalised in 2008. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Hinton St George with an extended lease are worth £192,000. The ground rent is £55 per annum. The lease finishes on 21st October 2079
With just 54 years unexpired we estimate the premium for your lease extension to span between £32,300 and £37,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more 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 taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.