Me and my partner are soon to exchange buying a property in Newbiggin By The Sea but as a result of wreckage from some water damage at the property I have managed to agree compensation from the vendor in the sum of £2k taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however Kent Reliance will not permit this. Why were they notified?
Your solicitor that is on the Kent Reliance approved list is duty bound to inform Kent Reliance of any changes to the sale price. If you were to refuse your conveyancing practitioner to report the reduction to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new conveyancer for your conveyancing in Newbiggin By The Sea.
I just bought a house at auction in Newbiggin By The Sea. Conveyancing is necessary. What is next?
Having legally bound yourself to purchase you now have to retain a conveyancing lawyer quickly as you will have a fast approaching a drop dead date to complete the property. Every auction property will have a corresponding legal pack. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to a leasehold property. You need to hand this to the conveyancer working for you as soon as possible. You also need to ensure that your finances are organised to complete on the date specified in the contract.
I had a mortgage agreed in principle with TSB. Newbiggin By The Sea conveyancing lawyers are chosen. What is the average time that one could expect to receive a mortgage offer from TSB?
There is no definitive answer here. Have TSB done the valuation? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
After weeks of negotiation I have agreed a price on an apartment in Newbiggin By The Sea. My financial adviser pressured me to appoint their solicitor. I paid an upfront payment of £175. Soon after, the property lawyer contacted me to say that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Do I need to take out insurance to cover chancel repairs when purchasing a residence in Newbiggin By The Sea?
Unless a prior acquisition of the property took place after 12 October 2013 you may assume that solicitors carrying out conveyancing in Newbiggin By The Sea to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Newbiggin By The Sea?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Newbiggin By The Sea. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Newbiggin By The Sea benefiting from help to buy. The builders refused to reduce the amount so I negotiated 6k of extras instead. The property agent suggested that I not inform my solicitor about the deal as it will jeopardize my mortgage 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 am looking for a leasehold apartment up to £235,500 and identified one close by in Newbiggin By The Sea I like with open areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Newbiggin By The Sea in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.