Me and my partner are due to complete buying a house in Stamford but as a consequence of wreckage from some water damage at the property I have managed to agree reparation from the current proprietors of £3k by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet Co-operative will not agree to this. Why were they notified?
Your property lawyer being on a Co-operative conveyancing panel is required to advise Co-operative of any amendments to the purchase price. If you were to refuse your conveyancer to report the reduction to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new lawyer for your conveyancing in Stamford.
Should my conveyancer be raising questions concerning flooding as part of the conveyancing in Stamford.
Flooding is a growing risk for lawyers dealing with homes in Stamford. Some people will buy a house in Stamford, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, but there are a number of searches that may be carried out by the buyer or by their lawyers which should give them a better appreciation of the risks in Stamford. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover if the premises has ever been flooded. If flooding has previously occurred which is not disclosed by the seller, then a buyer may bring a legal claim for losses as a result of such an inaccurate response. A buyer’s lawyers may also order an enviro search. This will reveal if there is a recorded flood risk. If so, additional investigations will need to be initiated.
I'm buying a new build house in Stamford with a mortgage from Skipton Building Society. The sellers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not reveal to my solicitor about the side-deal as it could put at risk my loan with Skipton Building Society. 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.
How do I locate a Stamford solicitor on the Birmingham Midshires conveyancing panel? I have a car and am prepared to travel upto 25miles to meet the conveyancer.
Feel free to make use of the facility on this website. Please select a mortgage company and your location and you will see a number of Stamford conveyancing lawyers based on proximity. We have listed some Stamford conveyancing firms at the bottom of this page and you can call them to check if they are on the Birmingham Midshires panel
I need to appoint a conveyancing solicitor for freehold conveyancing in Stamford. I have stumble upon a web site which looks to be the ideal offering If there is a chance to get all this stuff done via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last January I purchased a leasehold flat in Stamford. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a studio flat in Stamford, conveyancing having been completed October 2010. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Stamford with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 levied per year. The lease expires on 21st October 2077
With just 53 years left to run we estimate the price of your lease extension to span between £27,600 and £31,800 plus legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.