Having sold my house in West Bromwich last February but our buyer keeps whats apping every few hours to say their lawyer needs to hear from mysolicitor. What are the post completion sale legalities following completion?
Following your house sale your solicitor should send the transfer deeds and all of the paperwork to the purchaser's lawyers. If applicable, your conveyancer should also send confirmation that the home loan has been repaid to the buyers conveyancers. There are no post completion procedures just for conveyancing in West Bromwich.
Various online forums that I have come across warn that are the main reason for obstruction in West Bromwich conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in West Bromwich.
I'm purchasing my first flat in West Bromwich with the aid of help to buy. The sellers refused to budge the price so I negotiated 6k of additionals instead. The estate agent suggested that I not disclose to my conveyancer about the extras as it would adversely affect my mortgage with Aldermore. Do I keep my lawyer in the dark?.
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 decided to have a survey carried out on a property in West Bromwich before appointing solicitors. I have been informed that there is a flying freehold element to the property. My surveyor has said that some lenders tend refuse to grant a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different requirements from Halifax. Should you wish to call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in West Bromwich. Conveyancing will be smoother if you use a solicitor in West Bromwich especially if they are familiar with such properties in West Bromwich.
I'm remortgaging my current home to a BTL mortgage with Bank of Ireland and intend to use the remaining equity towards further property. The location we are looking at is West Bromwich. Will your solicitors be able to act for the two mortgage companies and tie in the two deals?
Make use of our search tool on this page to be sure that the lawyers are approved by both lenders. Assuming that they are the conveyancer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you lawyer and make clear your desired outcome and needs.
I am hoping to complete next month on a ground floor flat in West Bromwich. Conveyancing solicitors have said that they will have a report out to me on Monday. What should I be looking out for?
The report on title for your leasehold conveyancing in West Bromwich should include some of the following:
-
What the implications are if you have violated the provisions of the lease? Advice as to the provision as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the wider rights a leaseholder enjoys Does the lease prevent you from letting out the property, or working from home You would want to receive a copy of the lease The unexpired lease term. You should be advised as what happens when the lease expires, and informed of the importance of not letting the lease term falling below eighty years
I acquired a ground floor flat in West Bromwich, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in West Bromwich with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease ceases on 21st October 2079
With only 54 years unexpired we estimate the premium for your lease extension to be between £31,400 and £36,200 plus costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.