I am in need of a property lawyer. Should I go for for a web based conveyancer as opposed to a high street Cuckfield conveyancing solicitor?
Generally conveyancing solicitors in your neck of the woods will enjoy good connections with your local authority, which can assist with the Cuckfield conveyancing searches that your conveyancer will inevitably need. It can only assist if they have good rapport with the Land Registry covering your area Cuckfield, other property lawyers in the neighbourhood and Cuckfield selling agents.
My husband and I are nearing an exchange on a house in Cuckfield and my parents have sent the ten percent deposit to my lawyer. I am now informed that as the deposit has not arrived from me my lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is duty bound to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
The Cuckfield conveyancing firm that I recently instructed on my purchase in Cuckfield have without warning closed. I only went with them because I had to have a lawyer on the Principality conveyancing panel and my previous Cuckfield lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Principality conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Will our conveyancer be asking questions concerning flooding during the conveyancing in Cuckfield.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Cuckfield. Some people will buy a property in Cuckfield, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a numerous checks that may be undertaken by the purchaser or on a buyer’s behalf which can figure out the risks in Cuckfield. The standard completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to determine if the premises has ever been flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser may commence a legal claim for losses resulting from an inaccurate reply. The buyer’s solicitors may also conduct an enviro search. This will indicate if there is any known flood risk. If so, more detailed inquiries should be conducted.
I am buying a new build house in Cuckfield with a loan from Bank of Ireland. The developers would not move on the price so I negotiated 6k of extras instead. The house builders rep advised me not inform my lawyer about the side-deal as it would affect my mortgage with Bank of Ireland. 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.
What are your top tips when it comes to finding a Cuckfield conveyancing practice to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a Cuckfield conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Cuckfield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be of use:
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How familiar is the firm with lease extension legislation?
I am the registered owner of a ground floor flat in Cuckfield, conveyancing formalities finalised in 2008. Can you work out an approximate cost of a lease extension? Corresponding properties in Cuckfield with an extended lease are worth £170,000. The ground rent is £50 per annum. The lease terminates on 21st October 2104
With 79 years unexpired we estimate the premium for your lease extension to be between £7,600 and £8,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.