We are acquiring a new build duplex in Plumstead and my lawyer is informing me that she is duty bound to the lender to reveal incentives from the developer. I am under pressure to sign contracts and I would rather not delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Should our lawyer be raising enquiries concerning flooding during the conveyancing in Plumstead.
Flooding is a growing risk for conveyancers specialising in conveyancing in Plumstead. Some people will acquire a house in Plumstead, fully expectant that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a various checks that may be undertaken by the buyer or on a buyer’s behalf which should figure out the risks in Plumstead. The conventional set of property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the vendor to determine if the premises has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the seller, then a buyer could issue a claim for damages stemming from an incorrect reply. The purchaser’s conveyancers should also conduct an enviro search. This should indicate if there is a recorded flood risk. If so, more detailed investigations should be made.
How does conveyancing in Plumstead differ for newly converted properties?
Most buyers of new build premises in Plumstead come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Plumstead usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Plumstead or who has acted in the same development.
I was recommended by a few property agents in Plumstead to find a conveyancer using your seach tool. Is there a financial advantage for Estate Agents to market your services over and above alternative conveyancing organisations?
We refuse to offer any commission for sending work to this site. We thought it would be too underhand to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
My wife and I purchased a leasehold flat in Plumstead. Conveyancing and Skipton Building Society mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Plumstead who previously acted has now retired. Any advice?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Plumstead conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We have reached the end of our tether in negotiating a lease extension in Plumstead. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We are happy to put you in touch with a Plumstead conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Plumstead flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.
I was advised by my mortgage company that their approved solicitors work on no move no charge basis for conveyancing in Plumstead. Our purchase did not proceed nevertheless the solicitors have invoiced for search fees! They are stating that the fees are nothing to do with their fees!
in promising "no completion no fee" Plumstead conveyancing practices are waiving their charges for any work conducted. We should point out that this is NOT an insurance scheme. you will still need to cover any costs that the solicitor has incurred for you for instance Plumstead local authority checks