We have very pushy vendors who has suggested a preliminary agreement with a payment of 5k. Are such contracts generally advanced for Corby conveyancing transactions?
There are a couple of primary drawbacks with entering into any lock out contract (occasionally referred to as a no-shop agreement) is that it can distract from making progress with the conveyancing process, so unless it requires minimal or no negotiation then it may turn out to be a hindrance. It is not particularly popular amongst Corby conveyancing solicitors for this reason. A further negative is the extent of the remedies available - a jilted purchaser should not expect to secure an injunction to stop the seller selling to another buyer, so the only remedy open via the contract will be the recovery of wasted costs and, in limited situations, the additional payment of damages.
At what point will exchange of contracts occur in sale conveyancing in Corby and do I need to be at the solicitors branch?
Where you are in close proximity to our conveyancing solicitors in Corby you are welcome to come in to sign contracts. However, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give as equally comprehensive and professional a job for you when dealing with you digitally. The executing of the contract is not the point of no return. Signing on the dotted line simply enables the firm to address the formalities when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Corby)to be in the office available at the end of the phone to exchange contracts.
We had instructed solicitors located in Corby on the Lloyds solicitor panel. They have just invoiced me a further fee for dealing with the Lloyds mortgage. Is this a supplemental conveyancing fee specified by Lloyds?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your solicitor may levy a fee for this. The charge is not set by Lloyds but by your Corby property lawyer. Some firms on the Lloyds panel will charge an ‘acting for lender’ fee and others do not.
I am due to exchange contracts on my house. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nottingham are being a right pain. The Corby solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
RBS have agreed my mortgage in principle, my offer on a flat in Corby has been agreed to, now what?
Your property agent will wish to know who your solicitors are (ensure that the conveyancers are on the lender’s approved list). Contact RBS or your financial adviser and finalise any outstanding paperwork. RBS will sellect a valuer who will get in touch with the estate agent or seller to book a slot for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. RBS will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Corby.
We are downsizing from our home in Corby and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the buyers instructed an internet conveyancing practice as opposed to a conveyancing solicitor in Corby. We have lived in Corby for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Corby and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial leaseholders, giving them the legal entitlement to make a request to court for a renewal lease and continue in occupation at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Corby
I want to sublet my leasehold apartment in Corby. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
Even though your last Corby conveyancing solicitor is no longer around you can review your lease to see if it allows you to sublet the apartment. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you are obliged to obtain consent via your landlord or some other party prior to subletting. The net result is you not allowed to sublet without prior permission. Such consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
I inherited a garden flat in Corby, conveyancing was carried out in 2003. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Corby with a long lease are worth £197,000. The ground rent is £55 levied per year. The lease expires on 21st October 2080
With only 55 years unexpired the likely cost is going to span between £31,400 and £36,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing 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 additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.