I instructed a high street lawyer for our conveyancing in Seven Kings last week. Reviewing the Terms it is apparent thatwe are responsible for fees even where the conveyance does not complete. Would I be best advised to instruct an on-line conveyancing brokerage promising no move no charge conveyancing in Seven Kings?
Generally there is a concession along the lines that if "No Sale No Fee" is offered then the fee levels will generally be more expensive to neutralise the transactions that do not go ahead. Do bear in mind that such offerings tend not to cover expenses such your Seven Kings conveyancing search charges.
is it true that all Seven Kings solicitor firms on the Coventry BS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be regulated by the SRA. The majority of banks do permit licenced conveyancers on their panel and in that case the firms would be governed by the CLC.
We have agreed to purchase a house in Seven Kings. A rare aspect is that the roof has a solar panel. Clydesdale have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Clydesdale your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and lawyers are required to report to Clydesdale where a lease does not meet these conditions. The requirements relate to the installation of panels on properties nationwide and is not isolated to Seven Kings.
I have instructed a Seven Kings solicitor having checked that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Seven Kings surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Should my lawyer be asking questions regarding flooding as part of the conveyancing in Seven Kings.
Flooding is a growing risk for solicitors conducting conveyancing in Seven Kings. There are those who purchase a house in Seven Kings, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, but there are a various checks that may be initiated by the purchaser or by their conveyancers which should give them a better understanding of the risks in Seven Kings. The standard property information forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to determine if the premises has suffered from flooding. In the event that flooding has previously occurred which is not notified by the owner, then a buyer could issue a compensation claim as a result of such an incorrect answer. The buyer’s conveyancers may also carry out an enviro report. This will higlight whether there is a recorded flood risk. If so, further investigations should be carried out.
I have been on the look out for a flat up to £235,500 and identified one near me in Seven Kings I like with open areas and railway links in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in Seven Kings for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
How can the Landlord & Tenant Act 1954 affect my business premises in Seven Kings and how can you help?
The 1954 Act provides security of tenure to business lessees, giving them the dueness to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Seven Kings is one of the hundreds of locations in which our lawyers are based
I am purchasing a garden maisonette in Seven Kings. Conveyancing lawyer is awaiting, from the vendor, building insurance schedule. I was told today I was informed that the seller needs to send the insurance paperwork for the flat above in addition. Why does my conveyancing practitioner need to check the insurance for the flat above? Is it really required? We have been waiting for the last month…
It is not unheard of in leasehold conveyancing in Seven Kings to discover Conveyancing in Seven Kings in a minority of cases reveals that the lease obliges the tenant's to insure their individual flats as opposed to the freeholder insuring the complete building - which is clearly preferable. Do check with your property lawyer but it would seem that your lawyer is seeking to verify that the whole building is insured. Insuring your apartment is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt for lack of insurance cover.