Having sold my house in Shirenewton last August but the buyer keeps texting daily to say his lawyer is waiting to hear from mine. What are the post completion sale formalities following completion?
After completion of your disposal your conveyancer is committed to deliver the transfer deeds and all additional paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer should also confirm that the legal charge in favour of the lender has been discharged to the buyers solicitors. There are no post completion formalities unique to conveyancing in Shirenewton.
My brother-in-law has suggested I instruct a conveyancing solicitor in Shirenewton. I need to find out if they are accepted on the The Royal Bank of Scotland conveyancing panel. Could you assist?
The first thing to do is phone your conveyancer and enquire if they can act for the lender. Alternatively you can call The Royal Bank of Scotland who may be able to assist.
This question may be naive but I am unexperienced as FTB of a ground floor flat in Shirenewton. Do I collect the keys to the premises on the completion date from my lawyer? If so, I will instruct a local conveyancing solicitor in Shirenewton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the vendor’s solicitors, and once they have received this, you will be called to receive the keys from the Estate Agents and move into your new home. This tends to happen early afternoon.
I have a mortgage with UBS for my property in Shirenewton. Conveyancing has been completed 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval before letting out your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel firm.
I am selling my apartment. I had a double glazing fitted in July 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being difficult. The Shirenewton solicitor who is on the RBS conveyancing panel is saying indemnity insurance will be fine but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
What can a local search tell me concerning the property we're buying in Shirenewton?
Shirenewton conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance PSG The local search plays an important role in most Shirenewton conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I'm buying a new build house in Shirenewton with a loan from Aldermore. The developers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not inform my solicitor about this extras as it would adversely 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 want to sublet my leasehold apartment in Shirenewton. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Even though your last Shirenewton conveyancing solicitor is not available you can review your lease to see if you are permitted to let out the apartment. The accepted inference is that if the lease is silent, subletting is permitted. There may be a precondition that you must seek consent from your landlord or some other party before subletting. This means that you cannot sublet without first obtaining permission. Such consent should not be unreasonably withheld. If the lease prohibits you from subletting the property you will need to ask your landlord if they are willing to waive this restriction.
I purchased a garden flat in Shirenewton, conveyancing formalities finalised in 2003. Can you work out an approximate cost of a lease extension? Equivalent properties in Shirenewton with over 90 years remaining are worth £165,000. The ground rent is £50 levied per year. The lease expires on 21st October 2104
With just 78 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.