My wife and I are due to complete buying a property in Lickey End but as a consequence of wreckage from the recent storms I have managed to agree compensation from the current proprietors of £2k in the form of a deduction in the price. I had intended this to be dealt with as part of a side agreement yet Kent Reliance will not permit this. Should they have been informed?
Any conveyancing practitioner being on a Kent Reliance approved list is obliged to inform Kent Reliance of any variations to the purchase price. If you were to refuse your conveyancer to report the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new lawyer for your conveyancing in Lickey End.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather instruct a Lickey End based conveyancing firm?
You should check but the the likelihood is that give you one of their panel solicitors where you want the "fee-free" offer. Call the mortgage company and ask if they allow a cash alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Lickey End.
How does conveyancing in Lickey End differ for new build properties?
Most buyers of new build or newly converted property in Lickey End come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Lickey End tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lickey End or who has acted in the same development.
Over the last few months I have been searching for a flat up to £305k and found one near me in Lickey End I like with a park and transport links nearby, the downside is that it's only got 51 years on the lease. There is not much else in Lickey End suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years will be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am 14 days into a freehold purchase having been recommend to a firm by the selling agent to do our conveyancing in Lickey End. We are not happy. Could you you assist me in finding new conveyancers?
A solicitor would need to be very bad to suggest replacing them. Has the loan offer been issued? In the event that it has you must advise them of the new contact details and ensure the loan are re-issued. Your conveyancer should be on the lenders approved list to avoid escalating charges and complications. That should be your first question of the new solicitors. Our find a solicitor tool can assist you in finding a bank approved solicitor for your home move in Lickey End
What makes a Lickey End lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Lickey End. All leases are unique and drafting errors can sometimes mean that certain clauses are missing. The following missing provisions could result in a defective lease:
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A duty to insure the building
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Bank of Scotland, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
Lickey End Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying
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In the main the cost for major works tend not to be incorporated into the maintenance charges, albeit that some managing agents in Lickey End obliged leasehold owners to pay into a sinking fund created for the specific intention of building a fund for larger repairs or maintenance. What restrictions are there in the Lickey End Lease? Who takes responsibility for maintaining and repairing the block?