We are soon to complete on the purchase of a house in Stamfordham but as a consequence of damage from some water damage at the property I have was able negotiate compensation from the seller in the sum of £3k by way of a adjustment in the price. I had intended this to be addressed as part of amending the contract but Bank of Ireland are not allowing this. Should they have been involved?
Any solicitor being on the Bank of Ireland conveyancing panel is required to advise Bank of Ireland of any amendments to the purchase price. If you prohibit your conveyancing practitioner to notify the reduction to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new property lawyer for your conveyancing in Stamfordham.
What is the difference between a licensed conveyancer and conveyancing solicitor in Stamfordham
There are many registered licenced Conveyancers in Stamfordham and Solicitor firms in Stamfordham who can help with your conveyancing It is important to make clear that both are regulated professionals specialising in the legal aspects of transferring property. The two can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Have just purchased a repossessed house at auction in Stamfordham. Conveyancing is required. What happens now?
Now that you have legally committed yourself to purchase you should instruct a conveyancing solicitor quickly as you now have a pending a drop dead date to complete the deal. Every auction property will have an associated auction pack. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You need to give this to your appointed conveyancing solicitor ASAP. You also need to ensure that that you have the requisite funding in order to complete on the on the contractual date .
We are getting a further advance on our mortgage from Nationwide as we intend to conduct alterations to our home in Stamfordham. Do we need to choose a local Stamfordham solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide would not normally appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide conveyancing panel.
A friend advised me that if I am purchasing in Stamfordham I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Stamfordham conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Stamfordham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Stamfordham Education with plans and statistics, Local Amenities and other useful information regarding Stamfordham.
I am purchasing a new build house in Stamfordham benefiting from help to buy. The builders refused to move on the price so I negotiated 6k of extras instead. The house builders rep told me not reveal to my solicitor about the extras as it could affect my loan with the lender. Is this normal?.
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.
Am I best advised to go with a Stamfordham conveyancing practitioner based in the vicinity that I am purchasing? I have an old university friend who can carry out the conveyancing however her office is over three hundred kilometers drive away.
The primary upside of using a high street Stamfordham conveyancing practice is that you can drop in to execute documents, present your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a plus. That being said it's more important to get someone that will do a good and efficient job. If you know people who used your friend and the majority were content that should trump using an unknown Stamfordham conveyancing solicitor just because they are local.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Stamfordham. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Stamfordham ?
Most houses in Stamfordham are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Stamfordham so you should seriously consider looking for a Stamfordham conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the property is part of an estate. Your conveyancer will appraise you on the various issues.
I own a split level flat in Stamfordham, conveyancing formalities finalised half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Stamfordham with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2080
With only 55 years unexpired the likely cost is going to range between £31,400 and £36,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.