Some advice if I may. My Copthorne solicitor is assuring me that he is legally obliged toorder Copthorne conveyancing searches becausethe firm are on the Nat Westconveyancing panel. These Copthorne searches cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are taking a home loan with a mortgage company your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Copthorne conveyancing searches.
Should our solicitor be making enquiries regarding flooding as part of the conveyancing in Copthorne.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Copthorne. There are those who acquire a property in Copthorne, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a various checks that can be carried out by the purchaser or by their conveyancers which can figure out the risks in Copthorne. The conventional set of property information forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to discover if the property has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the vendor, then a buyer could issue a compensation claim stemming from an incorrect response. The purchaser’s conveyancers should also carry out an enviro report. This should reveal whether there is any known flood risk. If so, further inquiries should be made.
4 months have elapsed following my purchase conveyancing in Copthorne took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Copthorne differ for new build properties?
Most buyers of new build or newly converted property in Copthorne come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Copthorne typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Copthorne or who has acted in the same development.
I opted to have a survey completed on a property in Copthorne ahead of retaining conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some lenders will not grant a loan on this type of property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Copthorne. Conveyancing will be smoother if you use a solicitor in Copthorne especially if they are acquainted with such properties in Copthorne.
All being well we will complete our sale of a £250,000 apartment in Copthorne in just under a week. The landlords agents has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Copthorne?
Copthorne conveyancing on leasehold maisonettes ordinarily necessitates administration charges invoiced by managing agents :
-
Addressing pre-contract questions
Where consent is required before sale in Copthorne
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Copthorne Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
-
What is the the remaining lease term? Make sure you discover if the the lease includes any onerous restrictions in the lease. For example it is very common in Copthorne leases that pets are not allowed in certain buildings in Copthorne. If you love the flatin Copthorne yet your dog is not allowed to move with you then you have a very hard compromise. The best form of lease arrangement is if the freehold reversion is owned by the leaseholders. In this arrangement the tenants benefit from control and although a managing agent is often employed where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.