I am buying a newly built apartment in Tidworth and my conveyancer is advising me that she has to the lender to reveal incentives from the seller. The Estate Agents are hassling me to exchange and I would rather not delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the BSA planning on creating a searchable register to to identify law firms on the Coventry BS conveyancing panel for instance in Tidworth?
We would not expect to be advised of any plans on the part of the BSA to promote such a register.
Me and my brother have a 4 bedroom Edwardian house in Tidworth. Conveyancing lawyer represented me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tidworth and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing practitioner who conducted the work.
I'm remortgaging my primary house to a BTL mortgage with TSB and I will use the rest of the raised equity as a down payment on a second property. The neighborhood we are looking at is Tidworth. Will your solicitors be able to act for the two banks and link together the two deals?
Make use of our comparison tool on this site to check that the conveyancers are approved by both banks. On the basis that they are the solicitor should be able to tie up the two transactions but you should have a chat with you lawyer and make apparent your desired outcome and needs.
I’m about to sell my ground floor apartment in Tidworth. Conveyancing lawyers have not yet been instructed, however I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you pay the invoice as normal given that all ground rent and maintenance charges should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Leasehold Conveyancing in Tidworth - Examples of Questions you should consider before Purchasing
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Are there any major works in the near future that will likely add a premium to the maintenance costs? How many of the leaseholders are in arrears for their maintenance charge payments? You should be aware that where the lease has no more than eighty years it will affect the value of the property. It is worth checking with your bank that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably need a lease extension at some point and you need to have some idea of how much this would cost. For most Tidworthlease extensions you would need to own the residence for 24 months in order to be entitled to extend the lease.
How and when do I pay stamp duty chargeable for my Tidworth house purchase?
Most conveyancers tend to complete a stamp duty return for you during your Tidworth purchase transaction for signature. On completion your lawyer will submit the STL application to the Tax Authorities and - assuming they have the money - settle any tax bill liability on your behalf.