We are acquiring a brand new flat in Symonds Yat and my lawyer is informing me that she has to the mortgage company to disclose incentives from the seller. I am on a tight deadline to sign contracts and I would rather not delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am buying a new build house in Symonds Yat with a mortgage from Clydesdale. The sellers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not to tell my solicitor about this deal as it could impact my loan with Clydesdale. 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've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Symonds Yat is where the house is located. Can you offer any opinion?
Flying freeholds in Symonds Yat are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Symonds Yat you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Symonds Yat may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Given that I am about to part with hundreds of thousands of pounds on a house in Symonds Yat I wish to talk to a lawyer concerning thehouse move in advance of instructing the firm. Is this something that you can arrange?
This is something that we encourage - we would be pleased to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your conveyancing in Symonds Yat.There is no ‘factory style conveyancing’ - each client is unique individual, not a file number. The law firms that we put you in touch with believe that the fees you are provided with for your conveyancing in Symonds Yat should be the figure that you are charged.
I need to find a conveyancing solicitor for remortgage conveyancing in Symonds Yat. I have discover a web site which seems to have the perfect offering If it is possible to get all the legals completed via email that would be preferable. Do I need to be concerned? What should out be looking out for?
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?
Having checked my lease I have discovered that there are only Fifty years remaining on my flat in Symonds Yat. I need to extend my lease but my freeholder is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to prove that you or your lawyers have made all reasonable attempts to find the freeholder. For most situations an enquiry agent should be helpful to try and locate and prepare an expert document to be accepted by the court as proof that the freeholder is indeed missing. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Symonds Yat.
Symonds Yat Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
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How many of the leaseholders are in arrears for their maintenance charge payments? Who are the managing agents? Does the lease contain onerous restrictions?