IfI was to purchase a straightforward homein Oakleigh Park mortgage fee and have no survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Oakleigh Park?
Any savings you would gain will be limited to the disbursement for searches. A solicitor still got to do everything else - money laundering, liaising with your vendors lawyer, stamp duty return, register the property etc. A slight saving might be made by not having to register a charge but it will not be meaningful.
In what way does my ID and proof of funds have anything to do with my conveyancing in Oakleigh Park? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the ID of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms and Conditions that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. Where you are unwilling to hand over identification documents, your solicitor would not be able to accept instructions from you.
I require quick conveyancing in Oakleigh Park as I am under a deadline to exchange contracts within one month. Thankfully I do not require a mortgage. Can I decline from having conveyancing searches to save money and time?
As you are not taking a home loan you have the choice not to have searches carried out although no lawyer would suggest that you don't. Drawing on our experience of conveyancing in Oakleigh Park the following are instances of issues that can appear and therefore impact future mortgageability: Enforcement Notices, Outstanding Fees, Outstanding Grants, Road Schemes,...
I'm purchasing my first flat in Oakleigh Park with a mortgage from Skipton Building Society. The sellers would not budge the amount so I negotiated £7000 of extras instead. The estate agent told me not disclose to my solicitor about the side-deal as it will affect my loan with the bank. 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 ground for flat up to £305k and identified one close by in Oakleigh Park I like with amenity areas and station nearby, however it's only got 51 years on the lease. There is not much else in Oakleigh Park for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be an issue. Reduce 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 at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I've recently bought a leasehold flat in Oakleigh Park. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the leaseholder of a ground flat in Oakleigh Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to judgment on the amount due.
An example of a Lease Extension matter before the tribunal for a Oakleigh Park residence is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The number of years remaining on the existing lease(s) was 76 years.