We are about to exchange buying a house in Kegworth but as a result of wreckage from a small fire at the property I have managed to agree recompense from the current proprietors in the sum of £2k by way of a reduction in the price. I had intended this to be addressed as part of amending the contract however Coventry BS will not agree to this. Should they have been approached?
Any conveyancing practitioner that is on a Coventry BS approved list is required to disclose to Coventry BS of any amendments to the sale price. If you prohibit your solicitor to disclose the reduction to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new conveyancer for your conveyancing in Kegworth.
Do the Building Society Association intend to launch a search tool with a view to list firms on the Melton Mowbray Building Society conveyancing panel for instance in Kegworth?
We are not aware of any intention on the part of the BSA to promote such a tool.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Kegworth?
There are two types of lawyers who can carry out conveyancing in Kegworth namely licenced conveyancers or solicitors. Both professionals provide conveyancing services that required to complete the sale or purchase of property. They are both duty bound to conduct Kegworth conveyancing on similar quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally administered and that all necessary steps should be correctly taken.
I have a mortgage with Skipton for my property in Kegworth. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Skipton?
Skipton must be informed of your intention in advance of letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel firm.
About to purchase house in Kegworth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Kegworth conveyancer is on the Bank of Ireland conveyancing panel.
Various web forums that I have frequented warn that are the main cause of obstruction in Kegworth conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Kegworth.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Kegworth is where the house is located. Is there any advice you can give?
Flying freeholds in Kegworth are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kegworth you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kegworth may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How does the Landlord & Tenant Act 1954 impact my business offices in Kegworth and how can your lawyers assist?
The particular law that you refer to affords a safeguard to commercial tenants, giving them the a statutory right to apply to court for a new tenancy and continue in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Kegworth is one of the numerous locations in which the firms we work with have offices