The Castleford conveyancing solicitors that I appointed last week on my purchase in Castleford have suddenly closed. I chose them because I had to have a solicitor on the Bank of Ireland conveyancing panel and my previous Castleford lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Should my conveyancer be asking questions regarding flooding as part of the conveyancing in Castleford.
Flooding is a growing risk for solicitors conducting conveyancing in Castleford. Plenty of people will acquire a property in Castleford, fully aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a various checks that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Castleford. The conventional set of property information forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to find out whether the premises has suffered from flooding. In the event that the property has been flooded in past and is not disclosed by the owner, then a buyer may issue a legal claim for losses as a result of such an incorrect reply. A buyer’s conveyancers will also carry out an environmental search. This should reveal if there is a recorded flood risk. If so, more detailed inquiries should be initiated.
I am buying a new build house in Castleford with a loan from Barclays . The sellers would not budge the amount so I negotiated 6k of additionals instead. The property agent told me not reveal to my conveyancer about the side-deal as it would affect my loan with Barclays . Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Castleford is where the house is located. Is there any guidance you can impart?
Flying freeholds in Castleford are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Castleford you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Castleford may determine 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 property.
As co-executor for the will of my father I am disposing of a house in Monmouth but live in Castleford. My conveyancer (who is 300 kilometers awayhas requested that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing practitioner in Castleford to witness this legal document for me?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are based in Castleford
What advice can you give us when it comes to choosing a Castleford conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Castleford conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with several firms including non Castleford conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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If the firm is not ALEP accredited then why not?
I am the registered owner of a 2 bed flat in Castleford, conveyancing formalities finalised in 2012. Can you work out an approximate cost of a lease extension? Corresponding flats in Castleford with a long lease are worth £202,000. The ground rent is £60 invoiced every year. The lease ceases on 21st October 2081
With just 56 years remaining on your lease we estimate the premium for your lease extension to range between £29,500 and £34,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.