Willinstructing a Salisbury conveyancing solicitor make the legal process smoother?
Established third party connections are another important factor to consider when appointing conveyancing solicitors. Salisbury law firms enjoy connections with financial advisers and agents, local authorities, surveyors and other conveyancing firms meaning the whole process is going to be much more straightforward for you. Hosting years of experience in the local area is also a plus .
I'm buying my first flat in Salisbury benefiting from help to buy. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not to tell my solicitor about the side-deal as it may impact my mortgage with The Mortgage Works. 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 am looking for a ground for flat up to £195,000 and identified one round the corner in Salisbury I like with a park and station in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Salisbury in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage that many years will likely be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
My brother has recommend that I appoint his conveyancing solicitors in Salisbury. Should I use them?
Much as we are happy to recommend a Salisbury conveyancing lawyer the best way to select a conveyancing practitioner is to have feedback from friends or relatives who have previously instructed the firm you're contemplating using.
I am employed by a reputable estate agency in Salisbury where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have received conflicting advice from local Salisbury conveyancing solicitors. Can you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I inherited a studio flat in Salisbury, conveyancing having been completed 6 years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Salisbury with over 90 years remaining are worth £260,000. The ground rent is £45 yearly. The lease ends on 21st October 2100
With just 74 years remaining on your lease we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other issues 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 based on this information without first seeking the advice of a professional.
The conveyancing solicitors carrying out our conveyancing in Salisbury has sent papers to review that show the land is unregistered with epitome documents. Surely all property in Salisbury should be registered?
Although the vast majorities of properties in Salisbury are now registered with the Land Registry there are still some that remain unregistered. Any property in Salisbury that has been transferred since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Salisbury property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Salisbury conveyancing solicitors should be able to handle this type of conveyancing but if any uncertainty prevails the usual proposition nowadays is for the vendor’s solicitor to register it first and thereafter deal with the disposal - this this chain of events will result in a significant delay.