Will conveyancers ask for an advanced payment for my conveyancing in Radcliffe on Trent?
Where you are retaining lawyers for conveyancing in Radcliffe on Trent your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the conveyancing searches. If any down payment is payable against the total price then this will be required shortly ahead of contracts are exchanged. Any further balance that is needed will be payable shortly before completion.
I'm buying a new build house in Radcliffe on Trent benefiting from help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not reveal to my solicitor about the side-deal as it may affect my mortgage with . 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 have been on the look out for a flat up to £235,500 and found one close by in Radcliffe on Trent I like with a park and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Radcliffe on Trent in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.