We are acquiring a newly built duplex in Beccles and my conveyancer is telling me that she has to the lender to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I would rather not prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My property lawyer in Beccles is not listed on the Clydesdale Solicitor Panel. Is it possible for me to use my family solicitor notwithstanding that they are excluded from the Clydesdale approved list?
Your options are as follows:
- Carry on with your existing Beccles lawyers but Clydesdale will need to use a lawyer on their list of acceptable firms. This will result in additional overall conveyancing charges and result in delays.
- Find an alternative lawyer to act in the purchase, obviously checking they are on the Clydesdale panel
I am looking for a flat up to £245,000 and found one round the corner in Beccles I like with a park and railway links nearby, however it's only got 52 years on the lease. I can't really find anything else in Beccles in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
As co-executor for the will of my uncle I am disposing of a residence in Newport but I am based in Beccles. My conveyancer (who is 200 kilometers from meneeds me to execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Beccles to attest this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Beccles based
I've found a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are issues buying a house with a leasehold title in Beccles. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Beccles ?
Most houses in Beccles are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Beccles so you should seriously consider shopping around for a Beccles conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.
Beccles Leasehold Conveyancing - A selection of Queries Prior to Purchasing
-
How long is the Lease? Are there any major works in the planning that could increase the service costs? This question is useful as a) areas may cause problems in the block as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leaseholders have a dispute with the managing agents you will wish to have full disclosure