five months have elapsed following my purchase conveyancing in Shanklin took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying my first flat in Shanklin with a mortgage from Nottingham Building Society. The developers would not move on the price so I negotiated £7000 of extras instead. The estate agent suggested that I not to tell my conveyancer about the extras as it would adversely affect my mortgage with Nottingham Building Society. Do I keep my lawyer in the dark?.
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 have been on the look out for a flat up to £245,000 and found one near me in Shanklin I like with a park and transport links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Shanklin suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. 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 premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I have been pointed in your direction by numerous property agents in Shanklin to locate a conveyancer on your site. What’s the financial upside for Estate Agents to market your site over and above another?
We refuse to give any referral fee for directing people in our direction. We thought it would be too underhand to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My uncle has suggested that I instruct his lawyers for conveyancing in Shanklin. Should I find my own solicitor?
There are no two ways about it the best way to find a conveyancing practitioner is to seek feedback from friends or family who have actually used the solicitor that you are are thinking of instructing.
I am looking for Shanklin competitive conveyancing fees. Can I be assured that all the Shanklin law firms that are identified on your site are on the bank conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Shanklin conveyancing solicitor being on the lender conveyancing panel is not accurate.