Are there restrictive covenants that are commonly picked up as part of conveyancing in Spitalfields?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Spitalfields. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build house in Spitalfields benefiting from help to buy. The builders would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not disclose to my solicitor about the side-deal as it could affect my mortgage with the lender. 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 flat up to £235,500 and found one close by in Spitalfields I like with open areas and transport links nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Spitalfields suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign 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 concerning this matter.
I'm remortgaging my current property to a buy to let loan with Chelsea Building Society and I will use the ballance of the raised equity as a down payment on further property. The area we are talking about is Spitalfields. Will your solicitors be able to act for both sets of mortgage companies and tie in the two deals?
Do use our search tool on this page to check that the lawyers are on the appropriate lender panels. Having checked that they are the conveyancer will be able to simultaneously deal with the two transactions but you should talk with you conveyancer and communicate your expectations and requirements.
I need to instruct a conveyancing solicitor for purchase conveyancing in Spitalfields. I happened to land on a web site which looks to be the perfect solution If it is possible to get all the legals completed via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do online conveyancing companies cover everything a high street Spitalfields solicitor does or must I employ a solicitor for the final stages for my conveyancing in Spitalfields?
Where you instruct an online conveyancer they should cover all the things your Spitalfields conveyancer will cover.