My bid for a property was accepted at auction in Waddington. Conveyancing is needed. What are my next steps?

Having legally bound yourself to purchase you must instruct a conveyancing lawyer soon as you are faced with a tight a drop dead date to complete the transaction. Every auction property will ordinarily have a corresponding auction set of papers. This should include evidence of title and search results. If you have purchased leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You need to hand this to the lawyer instructed by you as soon as possible. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.

Forgive me if this question is silly but I am unseasoned as FTB of a ground floor flat in Waddington. Do I receive the keys to the property on completion from my solicitor? If so, I will use a local conveyancing solicitor in Waddington?

On the day of completion you will not be required to attend the conveyancers office in Waddington. Conveyancing lawyers for you will transfer the completion advance to the owner’s solicitors, and once they have received this, you should be able to pick up the keys from the Estate Agents and move into your new home. Usually this happens early afternoon.

About to purchase house in Waddington. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Waddington conveyancing practitioner is on the Virgin Money conveyancing panel.

I am purchasing my first flat in Waddington with a mortgage from Platform Home Loans Ltd. The developers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not reveal to my conveyancer about this extras as it could jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.

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.

Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Waddington is where the house is located. Is there any guidance you can impart?

Flying freeholds in Waddington are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Waddington you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waddington may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

How do I identify a Waddington solicitor on the Godiva Mortgages Ltd conveyancing panel? I drive a motor bike and am happy to travel upto 10kilometers to meet the solicitor.

Feel free to make use of the tool on this page. Please select a mortgage company and your location and you will see a number of Waddington conveyancing lawyers based on proximity. We have detailed some Waddington conveyancing firms at the bottom of this page and you can telephone them to check whether they are on the Godiva Mortgages Ltd approved list

I work for a long established estate agency in Waddington where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Waddington conveyancing solicitors. Could you clarify whether the seller of a flat can initiate the lease extension formalities for the buyer?

Provided that 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 proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.

An alternative approach is 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.

I acquired a garden flat in Waddington, conveyancing formalities finalised 5 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Waddington with an extended lease are worth £260,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2100

You have 75 years left to run the likely cost is going to be between £8,600 and £9,800 as well as professional fees.

The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.