It has been 4 months since my purchase conveyancing in Tynemouth completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 premises 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 a new build house in Tynemouth with the aid of help to buy. The sellers would not budge the price so I negotiated £7000 of extras instead. The estate agent advised me not disclose to my conveyancer about this extras as it may jeopardize my loan with the lender. 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.
Due to the guidance of my in-laws I had a survey completed on a house in Tynemouth before appointing lawyers. I have been told that there is a flying freehold element to the property. The surveyor has said that some mortgage companies tend not give a loan on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tynemouth. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tynemouth to see if the conveyancing costs will increase in light of this.
We are 18 days into a freehold purchase having been recommend to conveyancers by the high street agent to carry out the conveyancing in Tynemouth. I am not happy. Can you you assist me in finding new solicitors?
They would need to be very poor to suggest replacing them. Has your mortgage offer been generated? If so you must advise them of the new contact details and get the loan are re-issued. The conveyancer should be on the lenders approved list to avoid added charges and delays. So that should be your first question of the new conveyancers. Our find a solicitor tool will assist you in finding a lender approved lawyer for your conveyancing in Tynemouth
What advice can you give us when it comes to appointing a Tynemouth conveyancing firm to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Tynemouth conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Tynemouth conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:
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Can they put you in touch with clients in Tynemouth who can give a testimonial? What volume of lease extensions has the firm carried out in Tynemouth in the last 12 months?
Tynemouth Leasehold Conveyancing - A selection of Questions you should consider before buying
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On the whole the outlay for major works tend not to be incorporated into the maintenance charges, although some managing agents in Tynemouth ask leaseholders to pay into a sinking fund created for the specific intention of building a fund for larger repairs or maintenance. Make sure you find out if there are any onerous prohibitions in the lease. For instance it is reasonably common in Tynemouth leases that pets are not allowed in certain buildings in Tynemouth. If you love the propertyin Tynemouth yet your dog is not allowed to make the move with you then you have a very hard choice. Does the lease have onerous restrictions?
My conveyancing in Tynemouth is set to complete on Friday, yet the vendors I am purchasing from has asked to vacate 24 hours later at at 2pm. Do I accept this?
If you require a mortgage then your property lawyer will demand that the property isvacant on Friday - the lender will insist on it.