Do lenders provide you with an approved list of Knotty Ash conveyancing solicitors? How do you know who is on the Principality conveyancing panel?
Knotty Ash conveyancing firms themselves provide us confirmation that they are on the Principality conveyancing panel as opposed to being supplied with a list from Principality directly.
I require quick conveyancing in Knotty Ash as I am faced with pressure to sign on the dotted line in less than one month. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you are at free not to do searches although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Knotty Ash the following are instances of issues that can appear and therefore affect market value: Refused Planning Applications, Outstanding Fees, Overdue Grants, Railway Schemes,...
I am buying a new build house in Knotty Ash with a loan from Clydesdale. The developers would not move on the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not reveal to my solicitor about the extras as it will put at risk my mortgage with the bank. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Knotty Ash is the location of the property. What do you suggest?
Flying freeholds in Knotty Ash are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Knotty Ash you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knotty Ash 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 residence.
I'm remortgaging my current house to a buy to let mortgage with HSBC Bank and intend to use the remaining equity towards a second house. The area we are looking at is Knotty Ash. Will your solicitors be able to act for the two lenders and link together the two deals?
Do use our comparison tool on this site to check that the lawyers are on the appropriate lender panels. Assuming that they are your solicitor should be able to connect the two conveyancing matters but you should have a chat with you lawyer and make clear your desired outcome and needs.
I am a negotiator for a long established estate agent office in Knotty Ash where we have experienced a few leasehold sales jeopardised due to short leases. I have been given contradictory information from local Knotty Ash conveyancing firms. Please can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that 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. 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 needs to be completed prior to, or at the same time as completion of the disposal of the property.
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.
I inherited a leasehold flat in Knotty Ash, conveyancing was carried out June 2012. 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 Knotty Ash with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease runs out on 21st October 2079
With only 53 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be 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 seeking the advice of a professional.