It is is a decade since I acquired my home in Westbury. Conveyancing lawyers have now been appointed on the sale but I can't locate the title deeds. Will this cause complications?
Don’t worry too much. First the deeds may be retained by your lender or they could be archived with the conveyancers who handled the purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. The vast majority of conveyancing in Westbury relates to registered property but in the rare situation where your property is not registered it is more tricky but is resolvable.
I'm purchasing my first flat in Westbury benefiting from help to buy. The builders would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not reveal to my solicitor about this extras as it will impact my loan 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 decided to have a survey done on a property in Westbury prior to instructing conveyancers. I have been told that there is a flying freehold element to the property. My surveyor has said that some lenders tend not grant a loan on such a property.
It varies from the lender to lender. Santander has different instructions from Halifax. If you e-mail us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Westbury. Conveyancing will be smoother if you use a solicitor in Westbury especially if they are accustomed to such properties in Westbury.
What makes your site different to alternative online quote calculators for conveyancing in Westbury?
At this site receive a fixed fee quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Westbury. Unlike many estate agents and many comparison sites we do not have kick-back arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors that pays the highest per referral, not the best value conveyancing in Westbury
I work for a long established estate agency in Westbury where we see a number of leasehold sales put at risk due to short leases. I have been given contradictory information from local Westbury conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Leasehold Conveyancing in Westbury - Sample of Questions you should ask Prior to Purchasing
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How long is the Lease? How is the lease structured? Is anyone aware of any major works on the horizon that will add a premium to the service charges?
Me and my wife are expecting to complete on the purchase a property in Westbury but as a consequence of wreckage from the recent storms I have agreed recompense from the current proprietors of five thousand pounds by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process but the lender will not permit this. Why were they notified?
Any property lawyer being on a mortgage company conveyancing panel is duty bound to advise the bank of any variations to the sale price. If you prohibit your property lawyer to disclose the reduction to your bank then they would have no choice but to discontinue representing you and the mortgage company.