I have given 2 months notice to my current landlord and have to leave my rented flat in New Inn by 4/7/2025. Conveyancing on my purchase has just started. Is it possible to complete in six weeks as don't want to have to move into short term accommodation?
It is unwise to provide notice on a rental until your lawyer suggests that you should. If you have not previously done so, speak to your conveyancer and request that they apply pressure on the other side, try to get a realistic time scale from them that everyone will look towards
I'm purchasing a new build house in New Inn with a mortgage from Alliance & Leicester . The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not inform my conveyancer about the deal as it will adversely affect my mortgage with the lender. Is this normal?.
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've recently found out that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, chain free conveyancing. New Inn is the location of the property. Can you shed any light on this issue?
Flying freeholds in New Inn are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Inn you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Inn may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Taking into account that I am about to part with 450k on a garden flat in New Inn I would like to have a conversation with the lawyer regarding thehome move ahead of giving the go ahead to the firm. Can this be arranged?
This is something that we recommend - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be carrying out your property ownership legalities in New Inn.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter number. The law firms that we put you in touch with believe that the figure you are quoted for your conveyancing in New Inn should be the amount on the final invoice that you are charged.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450,000 maisonette in New Inn next Wednesday. The freeholder has quoted £360 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in New Inn?
New Inn conveyancing on leasehold flats more often than not involves the purchaser’s conveyancer submitting enquiries for the landlord to address. Although the landlord is not legally bound to address such questions most will be content to do so. They may charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is £350, in some cases it exceeds £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in respect of administration charges, otherwise the charge is not strictly payable. In reality you have no option but to pay whatever is demanded should you wish to sell the property.
I inherited a 1st floor flat in New Inn, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in New Inn with an extended lease are worth £202,000. The ground rent is £60 invoiced every year. The lease terminates on 21st October 2082
With just 57 years unexpired the likely cost is going to be between £28,500 and £33,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
Me and my partner are hoping to buy a three room maisonettein New Inn with a home loan from a mortgage company. We have selected a lawyer in New Inn but our bank says she’s not on their "panel". It seems we have little choice but to instruct from the our mortgage company panel solicitors or keep our New Inn conveyancer and pay for one of their panel ones to represent our bank. We feel as though this is unjust; Can we not simply insist that our lender use our New Inn lawyer?
Unfortunately,no. The bank mortgage issued is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. Until recently, most lenders had open panels, including many conveyancing solicitors in New Inn : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for your mortgage company.