I am planning to move home in May. Should my conveyancing solicitor update the removal company on the completion day. As an aside, can you recommend a removal company in Whitworth. Conveyancing solicitor was chosen prior to coming across your site.
On the day of completion you can collect the keys from your property agent however this can only occur once the previous owners solicitors inform the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You will need to advise the removal men that you are ready to move in. As a matter of policy we do not recommend a specific removal organisation but can assist you in locating a conveyancing in Whitworth or a lawyer with expertise in conveyancing in Whitworth.
Please help - my lawyer advises that breach of easement insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Whitworth?
The appropriate level of breach of easement indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Bank of Scotland. Conveyancing solicitors as opposed to members of the public take out such insurances.
The mortgage over my property is with UBS for my property in Whitworth. Conveyancing has been completed 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. It may be that UBS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel lawyer.
I understand that there are debates on Chancel Insurance on online forums. Do I require this when acquiring a residence in Whitworth? or Apparently there is historic law that could mean that owners of property residing in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this a legitimate concern for conveyancing in Whitworth?
Unless a prior acquisition of the premises completed post 12 October 2013 you can expect lawyers carrying out conveyancing in Whitworth to remain recommending a chancel search and or insurance against a claim.
I am purchasing my first flat in Whitworth with a mortgage from Bank of Ireland. The sellers refused to move on the amount so I negotiated £7000 of extras instead. The house builders rep advised me not disclose to my conveyancer about this deal as it could affect my loan with the bank. 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 have been on the look out for a ground for flat up to £195,000 and found one near me in Whitworth I like with open areas and transport links in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Whitworth in this price bracket, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the shortness of the lease may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
I work for a long established estate agent office in Whitworth where we have experienced a number of flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Whitworth conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
I invested in buying a 1st floor flat in Whitworth, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Similar properties in Whitworth with over 90 years remaining are worth £255,000. The ground rent is £45 invoiced every year. The lease finishes on 21st October 2099
With only 73 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 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 detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.
I have just placed an offer on a leasehold flat in Whitworth and the broker that we are using suggested his conveyancer. They quoted a thousand pounds excluding VAT and disbursements. Does this sound expensive?
Don't just go on one quote. You should seek like-for-like quotes for your conveyancing in Whitworth. Then choose one that you are comfortable with and crucially, is on the approved list of the mortgage company that you have applied for a mortgage from.