My wife and I are soon to exchange on the purchase of a property in Barnard Castle but as a consequence of wreckage from the recent storms I have managed to agree compensation from the seller of £2k taking the form of a reduction in the price. This was going to be dealt with as part of a side agreement however RBS are not allowing this. Should they have been involved?
The lawyer being on a RBS conveyancing panel is duty bound to advise RBS of any changes to the sale price. If you were to refuse your solicitor to notify the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new lawyer for your conveyancing in Barnard Castle.
Do the Building Society Association intend to launch a search tool with a view to list firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Barnard Castle?
We are not aware of any intention on the part of the BSA to promote such a search facility.
My bid for a property was accepted at auction in Barnard Castle. Conveyancing is needed. What happens now?
Now that you are exchanged you should retain a conveyancing solicitor soon as you now have a tight a fixed date to complete the purchase. Every auction property should have a bespoke auction set of papers. This will include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the auction pack should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You must hand this to the conveyancer working for you as soon as possible. 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 Kent Reliance as we intend to carry out a loft conversion to our property in Barnard Castle. Do we need to choose a high street Barnard Castle solicitor on the Kent Reliance conveyancing panel to handle the paperwork?
Kent Reliance do not ordinarily instruct firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
I am purchasing a property in Barnard Castle. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Co-operative be concerned?
Given that your lender is Co-operative your lawyer must check the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Co-operative where a lease does not satisfy these conditions. The provisions relate to the installation of panels on properties countrywide and is not restricted to Barnard Castle.
Are there restrictive covenants that are commonly identified during conveyancing in Barnard Castle?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Barnard Castle. 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…’
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Barnard Castle is where the house is located. What do you suggest?
Flying freeholds in Barnard Castle are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Barnard Castle you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barnard Castle may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My sealed bid on house in Barnard Castle was accepted, but there is a chain. The sellers have submitted an offer on a flat, however it’s not yet agreed to, and are looking at other properties in the pipeline. I have instructed a local conveyancing lawyer in Barnard Castle. What should be my next step? At what point should I apply for the mortgage with Nottingham?
It is understandable to have apprehensions where there is an associated chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then valuation, Barnard Castle conveyancing search fees, etc). First, you must ensure that your property lawyer is on the Nottingham approved list. Concerning the next phase this very much depends on the specifics of your transaction, desire for the property and on the state of the market. During a rising market some buyers would apply for the mortgage with Nottingham and arrange for the survey and only if it was satisfactory would they ask their solicitor to move forward with searches.