It has come to my attention via my lender that my Seaton lawyer is not on the lender Solicitor panel. What can I do to be sure that this is correct?
The best course of action for you to take is to call your Seaton conveyancer. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they may recommend you to a Seaton conveyancing firm that is on the approved list of lawyers for your mortgage company.
Can conveyancing in Seaton to be finalised in under 10 days?
Where you are under a tight deadline to exchange we would recommend that your conveyancer is familiar with the location as they will make use of local contacts and know-how. It is even conceivable that they could have transacted otherproperties in the same street. You would be best advised to use a Seaton conveyancing firm. Second, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is estimated that nearly one in five of Seaton conveyancing transactions are suspended or jeopardised after discovering a purchaser’s solicitor was not on their banks list of approved solicitors. This can often result in the legal transfer of property being frustrated by as much as three weeks. It is claimed that this issue impacts in the region of 100,000 home sales every year. Most Seaton conveyancing practices can not represent certain mortgage companies so do check at the outset.
Why do I have to pay up front for conveyancing in Seaton?
Where you are retaining lawyers for conveyancing in Seaton your lawyer will request that you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the total price then this will be required shortly before exchange of contracts. Any further balance that is due will be payable a few days prior to the day of completion.
My friend advised me that if I am purchasing in Seaton I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Seaton conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Seaton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Seaton Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Seaton.
I'm purchasing my first flat in Seaton with a mortgage from Bank of Ireland. The sellers refused to move on the price so I negotiated 6k of additionals instead. The estate agent told me not disclose to my lawyer about the side-deal as it would jeopardize my mortgage with Bank of Ireland. 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 a negotiator for a busy estate agent office in Seaton where we have experienced a few leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Seaton conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 buyer.
Seaton Leasehold Conveyancing - A selection of Queries before buying
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Is anyone aware of any major works on the horizon that could add a premium to the maintenance costs? How much is the annual service fee and ground rent? For many Seaton leaseholds the cost for major works tend not to be built into the service charges, albeit that some managing agents in Seaton require leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for major repairs or maintenance.