My husband and I are buying a new build apartment in Mablethorpe and my conveyancer is informing me that she is duty bound to the bank to disclose incentives from the developer. I am under pressure to exchange and I would rather not delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all mortgage companies provide you with an approved list of Mablethorpe conveyancing solicitors? How do you know who is on the Coventry BS conveyancing panel?
Mablethorpe conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
How does conveyancing in Mablethorpe differ for newly converted properties?
Most buyers of new build premises in Mablethorpe approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Mablethorpe usually purchase 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 conveyancers 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 Mablethorpe or who has acted in the same development.
I have been on the look out for a ground for flat up to £305k and found one round the corner in Mablethorpe I like with a park and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Mablethorpe in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
How can the Landlord & Tenant Act 1954 impact my commercial offices in Mablethorpe and how can your lawyers assist?
The 1954 Act affords protection to business tenants, granting the dueness to make a request to court for a new tenancy and continue in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Mablethorpe is one of our numerous areas of the UK in which the firms we work with are based
Is it possible for you to suggest a lawyer for purchasing a house? Ideally someone in the Mablethorpe area, who will contact me via email - not someone who insists on a letter in the post or fax.
LenderPanel.com is limited to being a directory service for solicitors who wish to be listed as being on the approved conveyancing panel for Aldermore in certain areas such as Mablethorpe . We dont recommend any specific property lawyer.