I am mortgaging my property in Forest Row, does my lawyer have to be on the Principality Solicitor panel?
In theory, you could use a solicitor that is not on the Principality conveyancing panel, but Principality would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
My wife and I are purchasing a house in Forest Row. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to send funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I'm in the throws of looking at houses in Forest Row and I am now considering a potential offer. Should I already have a property lawyer in place at this stage? I will be getting a home loan with Kent Reliance.
It would be advisable to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are taking out a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
I have decided to exercise my right to buy my property in Forest Row off the council. I have a mortgage agreed with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
Will our lawyer be raising questions about flooding as part of the conveyancing in Forest Row.
The risk of flooding is if increasing concern for lawyers dealing with homes in Forest Row. There are those who buy a house in Forest Row, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Forest Row. The standard property information forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the owner to determine whether the premises has suffered from flooding. In the event that the property has been flooded in past which is not disclosed by the vendor, then a buyer may issue a legal claim for losses as a result of such an inaccurate reply. A buyer’s solicitors will also carry out an environmental report. This will reveal if there is any known flood risk. If so, further inquiries should be conducted.
It has been three months since my purchase conveyancing in Forest Row concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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 asset 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.
Just had an offer accepted on a new build apartment in Forest Row. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Forest Row
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Due to the encouragement of my in-laws I had a survey completed on a house in Forest Row in advance of appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies may refuse to grant a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Forest Row. Conveyancing may be slightly more expensive based on your lender's requirements.