Completed the sale of my flat in Mitcheldean last April yet the purchaser is texting daily complaining that her lawyer needs to hear from mine. What are the post completion sale formalities following completion?
After completion of your disposal your solicitor is committed to forward the transfer documentation and all supplemental paperwork to the buyer’s conveyancer. If applicable, your solicitor must also evidence that the mortgage has been repaid to the buyers solicitors. There is unlikely to be post completion formalities specific conveyancing in Mitcheldean.
Please explain the implications if my lawyer’s firm is expelled from the RBS Conveyancing panel ahead of completing my conveyancing in Mitcheldean?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Will my conveyancer be making enquiries regarding flooding as part of the conveyancing in Mitcheldean.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Mitcheldean. Some people will purchase a property in Mitcheldean, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, but there are a numerous checks that may be carried out by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Mitcheldean. The conventional set of completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to discover if the property has suffered from flooding. In the event that the residence has been flooded in past and is not notified by the vendor, then a buyer could issue a compensation claim as a result of such an misleading reply. The buyer’s conveyancers will also order an environmental report. This should indicate if there is any known flood risk. If so, more detailed investigations should be conducted.
I'm buying my first flat in Mitcheldean benefiting from help to buy. The developers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not disclose to my conveyancer about the side-deal as it would put at risk my loan with the lender. Is this normal?.
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.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Mitcheldean I like with amenity areas and station in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Mitcheldean suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
How simple is it to swap conveyancer as I have to select a firm on the Accord Mortgages Ltd conveyancing list. I hired a family conveyancing solicitor in Mitcheldean round the corner but he is not approved by Accord Mortgages Ltd
We will our best to assist in finding you a conveyancing solicitor in Mitcheldean on the Accord Mortgages Ltd panel. Please note that the solicitors that we list do not pay us a referral fee if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Mitcheldean. Using search facility on this site, you can compare charges for conveyancing solicitors in Mitcheldean and throughout England and Wales.