My partner and I are purchasing a newly constructed duplex in Horbury and my conveyancer is telling me that she has to the lender to reveal incentives from the seller. I am nearing the developer’s deadline to exchange and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Horbury. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 3/11/2024, the requirements read as follows :
Are there restrictive covenants that are commonly identified during conveyancing in Horbury?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Horbury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a ground for flat up to £235,500 and found one close by in Horbury I like with a park and railway links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Horbury in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Hoping to buy a property located in Horbury and I am already nervous. I couldn't find anything specific about Horbury. Conveyancing will be needed in due course but do you know about the Horbury area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Horbury. In the meantime here are some basic statistics that we found