Me and my partner are soon to complete buying a property in Cleobury Mortimer but as a consequence of wreckage from a small fire at the property I have was able negotiate compensation from the seller of £3k by way of a deduction in the price. This was going to be addressed as part of a side agreement yet Nottingham will not agree to this. Should they have been involved?
The conveyancer that is on the Nottingham conveyancing panel is obliged to advise Nottingham of any variations to the sale price. If you were to refuse your lawyer to report the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new conveyancing practitioner for your conveyancing in Cleobury Mortimer.
Will our lawyer be asking questions regarding flooding as part of the conveyancing in Cleobury Mortimer.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Cleobury Mortimer. Some people will buy a house in Cleobury Mortimer, fully expectant 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 building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that may be undertaken by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Cleobury Mortimer. The conventional set of information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the owner to find out whether the premises has ever been flooded. If flooding has previously occurred and is not disclosed by the owner, then a purchaser may bring a legal claim for losses as a result of such an inaccurate response. A purchaser’s solicitors will also conduct an enviro report. This will reveal whether there is any known flood risk. If so, further investigations will need to be initiated.
I am buying my first flat in Cleobury Mortimer with a loan from Lloyds TSB Bank. The sellers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not reveal to my solicitor about this deal as it will adversely affect my mortgage with the bank. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Cleobury Mortimer is the location of the property. Can you shed any light on this issue?
Flying freeholds in Cleobury Mortimer are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cleobury Mortimer 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 Cleobury Mortimer may decide 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 residence.
As co-executor for the will of my grandfather I am disposing of a residence in Neath but I am based in Cleobury Mortimer. My lawyer (approximately 250 miles awayneeds me to sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing lawyer in Cleobury Mortimer who can witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are Cleobury Mortimer based
Planning to complete next month on a leasehold property in Cleobury Mortimer. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Cleobury Mortimer should include some of the following:
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Will you be prohibited or prevented from having pets in the property? The length of the lease term. You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark You should have a good understanding of the building insurance provisions Who has the liability to repair and maintain the main walls and foundations. It is essential that you know who is responsible the repair and maintenance of all parts of the block and estate Who has the liability for repairing the window frames
I bought a 1 bedroom flat in Cleobury Mortimer, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Cleobury Mortimer with over 90 years remaining are worth £192,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2079
With 54 years left to run the likely cost is going to be between £32,300 and £37,400 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.