We are a couple about to sign contracts for a ground floor flat in Narborough. We encountered a problem. The mortgage offer with Britannia expires on 16/12/2025 but the vendors are suggesting a completion date of 18/12/2025. Can one prolong the mortgage expiry date?
The person best placed to deal with your concern is your lawyer who is in a position to determine if he or she is better off negotiating with the mortgage broker, seller’s solicitors, estate agents or conceivably all parties based on what has happend in your transaction to date.
Having spent time researching consumer advice sites for a recommended solicitor in Narborough, most say that I must use a CQS assured lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing processes via the scheme protocol the standard includes many partnerships who conduct conveyancing in Narborough.
I have been told that property searches are the number one reason for obstruction in Narborough conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Narborough.
I am buying my first flat in Narborough with a mortgage from Accord Mortgages Ltd. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The sale representative told me not to tell my lawyer about this side-deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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.
I wish to sublet my leasehold flat in Narborough. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
Even though your previous Narborough conveyancing solicitor is no longer available you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are silent, subletting is allowed. There may be a precondition that you are obliged to obtain consent from your landlord or other appropriate person in advance of subletting. The net result is that you cannot sublet without prior permission. The consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I purchased a leasehold flat in Narborough, conveyancing was carried out 8 years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Narborough with a long lease are worth £255,000. The ground rent is £45 yearly. The lease terminates on 21st October 2099
You have 74 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
My cousin is buying a garden flat in Narborough. He has received a fee estimate by the solicitor suggested by the selling agents totaling £1275 . It was seven years ago I sold and purchased a house and the fee was £500. Have fees really increased to that extent?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Narborough searches, land registry fees, etc)