As a first time buyer what is the most important piece of guidance you can impart regarding purchase conveyancing in Chelmsford?
Not many law firms shout this from the rooftops but conveyancing in Chelmsford or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for conflict between you and others involved in the ownership transfer. For example, the seller, estate agent and even potentially a bank. Selecting a solicitor for your conveyancing in Chelmsford an important selection as your conveyancer is your adviser, and is the ONLY party in the transaction whose role it is to act in your legal interests and to protect you.
On occasion a third party with a vested interest may try and convince you that you should follow their advice. For example, the selling agent may claim to be helping by claiming that your lawyer is wrong. Or your financial adviser may try to convince you to do take action that is contrary to your conveyancers guidance. You should always trust your lawyer above all other parties in the home moving process.
It has been four months following my purchase conveyancing in Chelmsford completed. I have checked the Land Registry site which shows that I paid £175,000 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 asset 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 Chelmsford with the aid of help to buy. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not disclose to my conveyancer about the deal as it may adversely affect my mortgage 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 have been on the look out for a flat up to £195,000 and found one near me in Chelmsford I like with a park and station nearby, however it's only got 49 years unexpired on the lease. I can't really find anything else in Chelmsford for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
My conveyancing in Chelmsford is completing this Friday, yet the couple I am purchasing from has asked to vacate the next day at noon. Do I agree to such a idea?
Where you require a loan then your conveyancing practitioner will demand that the property isvacant on Friday - the lender will compel it.