Me and my partner are soon to exchange buying a house in Chatham but as a result of damage from the recent storms I have was able negotiate reparation from the owner of six thousand pounds taking the form of a deduction in the price. I had intended this to be dealt with as part of a side agreement yet Nottingham are not allowing this. Why were they informed?
Any conveyancer that is on the Nottingham approved list is required to inform Nottingham of any variations to the sale price. If you prohibit your property lawyer to notify the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new conveyancer for your conveyancing in Chatham.
I am in the process of remortgaging my flat in Chatham, does my lawyer need to be on the Principality Solicitor panel?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Should our conveyancer be asking questions about flooding during the conveyancing in Chatham.
Flooding is a growing risk for lawyers carrying out conveyancing in Chatham. There are those who buy a property in Chatham, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a various checks that can be initiated by the purchaser or by their lawyers which can figure out the risks in Chatham. The standard completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to discover if the property has suffered from flooding. If the premises has been flooded in past and is not notified by the owner, then a buyer could bring a claim for damages resulting from an inaccurate answer. A buyer’s solicitors may also conduct an environmental search. This will higlight if there is a recorded flood risk. If so, further investigations should be initiated.
I have todaydiscovered that Stirling Law have closed. They conducted my conveyancing in Chatham for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is in my name in the name of the previous owner?
The quickest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chatham conveyancing specialists.
I'm buying a new build house in Chatham benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not to tell my solicitor about this side-deal as it could adversely affect my loan with Virgin Money. 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.
To what extent are Chatham conveyancing solicitors duty bound by the Law Society to publish clear conveyancing figures?
Contained within the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Chatham or beyond.