Me and my partner are due to exchange buying a house in Aldeburgh but as a consequence of damage from a small fire at the property I have managed to agree compensation from the current proprietors of £2k in the form of a reduction in the price. This was going to be dealt with as part of amending the contract yet Nottingham are not allowing this. Should they have been notified?
Your conveyancing practitioner that is on the Nottingham conveyancing panel is required to advise Nottingham of any changes to the sale price. If you prohibit your lawyer to disclose the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new lawyer for your conveyancing in Aldeburgh.
My lawyer in Aldeburgh is not listed on the Leeds Building Society Solicitor Panel. Can I still retain my family solicitor notwithstanding that they are excluded from the Leeds Building Society list of approved lawyers?
Your options are as follows:
- Complete the purchase with your preferred Aldeburgh lawyers but Leeds Building Society will need to retain a solicitor on their list of acceptable firms. This will inevitably rack up the total legal charges and cause frustration.
- Find a new lawyer to act in the purchase, obviously checking they are on the Leeds Building Society panel
This question may be naive but I am unseasoned as a 1st time purchaser of a two bedroom flat in Aldeburgh. Do I pick up the keys to the property on the completion date from my solicitor? If so, I will appoint a local conveyancing solicitor in Aldeburgh?
On the day of completion you will not be required to attend the conveyancers office in Aldeburgh. Your solicitors will arrange to send the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you will be called to receive the keys from the selling Agents and start moving into the property. Usually this happens early afternoon.
We had instructed solicitors locally in Aldeburgh on the Nationwide solicitor panel. They have just billed me an additional fee for handling the Nationwide mortgage. Is this a supplemental conveyancing fee set by Nationwide?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This charge is not set by Nationwide but by your Aldeburgh lawyer. Some firms on the Nationwide panel will levy ’dealing with mortgage’ fee and others do not.
Leeds Building Society have agreed my mortgage in principle, my bid on a apartment in Aldeburgh has been accepted, what are the next steps?
Your property agent will need to be informed of your property lawyer's details (ensure that the solicitors are on the lender’s approved list). Contact Leeds Building Society or the financial adviser and finish off any outstanding documentation. Leeds Building Society will instruct a valuer who will get in touch with the estate agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Leeds Building Society will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Aldeburgh.
I am purchasing a new build house in Aldeburgh with the aid of help to buy. The developers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not disclose to my solicitor about this side-deal as it will affect my mortgage with the bank. 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 UK Finance website. UK Finance 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.
I decided to have a survey done on a house in Aldeburgh before appointing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies tend not give a mortgage on such a home.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Aldeburgh. Conveyancing may be slightly more expensive based on your lender's requirements.
How can the Landlord & Tenant Act 1954 affect my commercial property in Aldeburgh and how can you help?
The 1954 Act gives protection to commercial leaseholders, granting the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Aldeburgh