AssumingI were to acquire a freehold propertyin Redcar and Cleveland for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Redcar and Cleveland?
Any savings you would gain would be isolated to the costs for searches. A lawyer still got to do everything else - money laundering, communicating with your vendors property lawyer, SDLT submission, register the property etc. You might save a bit for them not needing to register a charge however it won't be meaningful.
I am buying my first flat in Redcar and Cleveland with a loan from Britannia. The builders would not reduce the amount so I negotiated £7000 of additionals instead. The house builders rep told me not disclose to my conveyancer about the deal as it will put at risk my loan with Britannia. Should I keep quiet?.
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 put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Redcar and Cleveland is the location of the property. Can you offer any guidance?
Flying freeholds in Redcar and Cleveland are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Redcar and Cleveland you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Redcar and Cleveland may ascertain 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 residence.
My uncle has encouraged me to use his conveyancers in Redcar and Cleveland. Should I choose my own solicitor?
Much as we are happy to recommend a Redcar and Cleveland conveyancing lawyer it’s preferable to choose a conveyancing lawyer is to seek guidance from friends or family who have actually previously instructed the firm that you are are thinking of instructing.
I've recently bought a leasehold house in Redcar and Cleveland. Am I liable to pay service charges relating to a period prior to my ownership?
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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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 acquired a 2 bed flat in Redcar and Cleveland, conveyancing formalities finalised in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Redcar and Cleveland with an extended lease are worth £186,000. The ground rent is £55 yearly. The lease terminates on 21st October 2077
With only 52 years left to run the likely cost is going to span between £29,500 and £34,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.
Do online conveyancing organisations cover everything a local Redcar and Cleveland solicitor does or must I use a solicitor for the final stages for my conveyancing in Redcar and Cleveland?
If you use an online conveyancer they will undertake all the things your Redcar and Cleveland conveyancer would cover.