We are due to complete buying a house in Kingsnorth but as a result of damage from the recent storms I have was able negotiate reparation from the current proprietors of £2k taking the form of a reduction in the price. I had intended this to be dealt with as part of amending the contract but Nottingham are not allowing this. Should they have been notified?
Any conveyancing practitioner being on a Nottingham approved list is required to disclose to Nottingham of any variations to the purchase price. If you prohibit your lawyer to disclose 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 property lawyer for your conveyancing in Kingsnorth.
At what point does exchange of contracts take place for residential conveyancing in Kingsnorth and do I need to attend the conveyancers branch?
If you are local to one of the conveyancing solicitors in Kingsnorth you are invited in to sign documents. However, the law practices we recommend provide countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when dealing with you digitally. The signing of the property agreement is not the point of no return. A signed contract simply enables the firm to exchange contracts at the suitable time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Kingsnorth)to be in the office available at the end of the phone to exchange contracts.
I am buying a new build house in Kingsnorth benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not to tell my conveyancer about this deal as it could affect my mortgage with Clydesdale. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Kingsnorth is where the house is located. Is there any advice you can impart?
Flying freeholds in Kingsnorth are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kingsnorth you would need to get your solicitor to go 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 Kingsnorth 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 residence.
In what way does the Landlord & Tenant Act 1954 affect my business offices in Kingsnorth and how can your lawyers assist?
The particular law that you refer to gives a safeguard to commercial tenants, granting the dueness to make a request to court for a renewal tenancy and remain 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 complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Kingsnorth
I work for a long established estate agent office in Kingsnorth where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Kingsnorth conveyancing solicitors. Could you confirm whether the vendor of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Kingsnorth Leasehold Conveyancing - A selection of Queries before Purchasing
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How much is the service charge and ground rent on the flat? Is the freehold owned collectively by the tenants? Plenty Kingsnorth leasehold apartments will be liable to pay a service bill for maintenance of the building set by the freeholder. Should you purchase the flat you will have to pay this charge, normally periodically accross the year. This may vary from several hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent for you to pay annual, this is usually not a exorbitant sum, say about £50-£100 but you need to enquire it because on occasion it could be many hundreds of pounds.