I am due to complete on the purchase of a property in Bideford but as a consequence of damage from the recent storms I have managed to agree compensation from the current proprietors of three thousand pounds by way of a adjustment in the price. This was going to be addressed as part of the conveyancing process but Principality will not permit this. Should they have been informed?
The lawyer that is on the Principality approved list is obliged to disclose to Principality of any variations to the purchase price. If you prohibit your lawyer to disclose the reduction to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new conveyancing practitioner for your conveyancing in Bideford.
I am purchasing a property and need a conveyancing solicitor in Bideford who is on the Platform Home Loans Ltd conveyancing. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Platform Home Loans Ltd in certain locations such as Bideford. We dont recommend any particular firm.
Will my solicitor be raising enquiries concerning flooding during the conveyancing in Bideford.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Bideford. There are those who acquire a house in Bideford, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, however there are a number of searches that can be initiated by the purchaser or by their solicitors which should figure out the risks in Bideford. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to find out if the premises has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the vendor, then a buyer could bring a compensation claim resulting from an incorrect answer. A buyer’s conveyancers should also carry out an environmental search. This should higlight whether there is any known flood risk. If so, further inquiries should be carried out.
I decided to have a survey carried out on a house in Bideford before retaining solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks may refuse to issue a mortgage on this type of home.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bideford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bideford to see if the conveyancing costs will increase in light of this.
I’m about to sell my basement flat in Bideford. Conveyancing solicitors are to be appointed soon, but I have just had a quarterly maintenance charge demand – what should I do?
It best that you clear the service charge as you normally would because all rents and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I own a 1st floor flat in Bideford, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Bideford with an extended lease are worth £197,000. The ground rent is £55 charged once a year. The lease ceases on 21st October 2080
You have 55 years remaining on your lease the likely cost is going to be between £31,400 and £36,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
I'm buying a house in Bideford. I have found my conveyancer's company on the CLC list, but I can't see my lawyer's name on the list. Should I be concerned?
Not every individual in the company must be listed by the regulator. As long there is a manager qualified to 'oversee' the conveyancing, the actual day-to-day activity can be undertaken by unqualified staff.