I am buying a new build house in West Hendon with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my conveyancer about this deal as it would affect my mortgage with Barclays Direct. 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.
I opted to have a survey carried out on a house in West Hendon ahead of instructing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some lenders may not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Hendon. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for remortgage conveyancing in West Hendon. I happened to land on a site which seems to have the ideal answer If it is possible to get all formalities done via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I work for a reputable estate agent office in West Hendon where we have witnessed a number of flat sales derailed as a result of short leases. I have received contradictory information from local West Hendon conveyancing firms. Could you clarify whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have 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 before, or at the same time as completion of the disposal of the property.
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 purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a West Hendon conveyancing firm to represent me?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the amount due.
An example of a Lease Extension decision for a West Hendon premises is First Floor Flat 61 Wilberforce Road in March 2014. The premium payable was £10,130 and the case was remitted back to the Willesden County Court to effect the Vesting Order (Claim No 3W103100). This case was in relation to 1 flat. The unexpired term was 71 years.
I have been advised by numerous estate agents to expect six to eight weeks for West Hendon conveyancing to complete.This was a month ago. The paperwork was only sent to my lawyer last week so does the clock start running now?
There is no official countdown for conveyancing in West Hendon, or any area in the UK. You simply have to ensure that your finances are in order and in due course the rest will come together.