My father advised me that in purchasing a property in Manor House there could be a number of restrictions limiting what one can do in terms of external changes to the property. Is this right?
There are anumerous of properties in Manor House which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Manor House should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We were going to get a AIP from TSB this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Manor House solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Manor House solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
Intending to buy a flat in Manor House. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Manor House conveyancer is on the UBS conveyancing panel.
My relative suggested that if I am purchasing in Manor House I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Manor House conveyancing searches. It is not a small report of more than thirty pages, listing and detailing significant information about Manor House around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Manor House Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Manor House Education with maps and statistics, Local Amenities and other useful information regarding Manor House.
I am purchasing my first flat in Manor House with the aid of help to buy. The builders refused to move on the price so I negotiated 6k of additionals instead. The property agent told me not to tell my lawyer about this deal as it could adversely affect my mortgage with HSBC Bank. Do I keep my lawyer in the dark?.
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.
I need to find a conveyancing solicitor for freehold conveyancing in Manor House. I happened to chance upon a web site which appears to be the ideal offering If there is a chance to get all this stuff done via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am tempted by the attractive purchase price for a two flats in Manor House which have in the region of forty five years left on the lease term. Will this present a problem?
There are plenty of short leases in Manor House. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the marketability of the lease deteriorates and results in it becoming more costly to extend the lease. For this reason it is often a good idea to extend the lease term. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Manor House conveyancing firm to help?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to make a decision on the price payable.
An example of a Freehold Enfranchisement matter before the tribunal for a Manor House property is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case affected 1 flat. The unexpired residue of the current lease was 71 years.
We own a leasehold flat in Manor House. Conveyancing was finished in 2009. I have been told that I should not let the lease length get too short. Is this correct?
Manor House leasehold properties are for a set term - normally ninety nine years when they are first granted. However many flats in Manor House were constructed or converted 30 or more years ago and so these leases now have fewer than 80 years left to run. That may seem like a long time but Banks, Building Societies and other mortgage lenders on the whole require leases to have a minimum of seventy five years unexpired to adequate security. This means that when you come to sell the property you will need a lease extension if you are nearing 75 years. To maximise your property value you should be considering whether to extend your lease well in advance of selling the property. Furthermore significant benefits to doing so before the lease hits eighty years as when the lease falls below 80 years the amount to be paid to extend starts to increase.