My wife and I are due to exchange on the purchase of a house in Snodland but as a result of damage from some water damage at the property I have was able negotiate compensation from the current proprietors of three thousand pounds by way of a adjustment in the price. This was going to be dealt with as part of amending the contract however Barclays will not agree to this. Should they have been informed?
The property lawyer being on the Barclays conveyancing panel is duty bound to disclose to Barclays of any variations to the purchase price. If you were to refuse your conveyancer to notify the reduction to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new solicitor for your conveyancing in Snodland.
I am considering applying for a Bank of Ireland mortgage for purchase of a newly converted (under development) in Snodland with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What can a local search inform me about the house we're purchasing in Snodland?
Snodland conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search organisations for example Xpress Legal The local search plays an important part in most Snodland conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Snodland?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Snodland. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Snodland differ for newly converted properties?
Most buyers of new build or newly converted property in Snodland approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Snodland tend to buy 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 accustomed to new build conveyancing in Snodland or who has acted in the same development.
All being well we will complete our sale of a £250,000 flat in Snodland in 5 days. The management company has quoted £372 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Snodland?
Snodland conveyancing on leasehold flats often necessitates the buyer’s conveyancer sending questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to assist. They are at liberty to charge a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some situations it is in excess of £800. The administration charge required by the landlord must be sent together with a summary of rights and obligations in relation to administration fees, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is requested of you if you want to complete the sale of your home.
Leasehold Conveyancing in Snodland - A selection of Questions you should ask before buying
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If a Snodland lease has no more than 80 years it will impact the marketability of the flat. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will most likely require a lease extension at some point and you need to have some idea of what this will be. For most Snodlandlease extensions you will be be obliged to have been the owner of the premises for two years before you are entitled to extend the lease. Is there a share of the freehold? You should want to discover as much as possible about the company managing the block as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily issues like the tidiness of the communal areas. You should not be afraid to ask other people what they think of their management. On a final note, be sure you discover the dates that the service charges are due to the managing agents and precisely what you get for your money.