The sellers of the property we are purchasing are using a conveyancing firm in Meliden who has insisted on a exclusivity agreement with a down payment two thousand pounds. Are such agreements sensible?
Lock out agreements are agreements between a property seller and prospective buyer giving the buyer a ‘clear field’ to the sale of the property within an agreed time frame. Essentially, a lock out agreement is a contract stating that you will be issued with a contract at a later time which is the main conveyancing contract. It is generally used for buyer confidence though in many situations, the vendor may enjoy an upside from such agreements as well. There are many positives and negatives to having them but you need to check with your lawyer but note that it may end up incurring more in conveyancing charges. For this these agreements are avoided when it comes to conveyancing in Meliden.
I have 70 years remaining on my lease and need a lease extension for my flat in Meliden. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 12/12/2024 the requirements read as follows :
I have justdiscovered that Action Conveyancing have been shut down. They carried out my conveyancing in Meliden for a purchase of a freehold house 12 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The easiest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Meliden conveyancing specialists.
I'm purchasing my first flat in Meliden benefiting from help to buy. The developers refused to move on the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not disclose to my lawyer about this extras as it will impact my loan with the lender. Is this normal?.
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 have been on the look out for a leasehold apartment up to £305k and found one near me in Meliden I like with open areas and railway links nearby, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in Meliden suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My uncle has urged me to instruct his lawyers for conveyancing in Meliden. Do I follow his guidance?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to get referrals from friends or relatives who have experience in using the conveyancer you're are thinking of instructing.