At what point will exchange of contracts occur in sale conveyancing in Edingale and do I need to attend the conveyancers branch?
Where you are round the corner to our conveyancing solicitors in Edingale you are invited in to sign the paperwork. However, the firms we work with supply countrywide coverage for conveyancing and give as equally comprehensive and professional a job for you when dealing with you electronically. The executing of the contract is not the important part. A signed contract is necessary for the firm to address the formalities at the appropriate time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Edingale)to be in the office available at the end of the phone to exchange contracts.
My wife and I are purchasing a flat in Edingale. I might seem paranoid but how we can trust a solicitor? At some point we have to deposit money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Santander are being problematic. The Edingale solicitor who is on the Santander conveyancing panel is recommending indemnity insurance as a solution but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander 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.
Planning on purchasing a house in Edingale. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Edingale conveyancer is on the Skipton conveyancing panel.
Will my lawyer be asking questions concerning flooding during the conveyancing in Edingale.
Flooding is a growing risk for solicitors dealing with homes in Edingale. There are those who purchase a house in Edingale, completely 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 get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a numerous checks that may be undertaken by the buyer or by their conveyancers which should figure out the risks in Edingale. The standard property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to discover if the premises has historically flooded. If flooding has previously occurred which is not disclosed by the seller, then a buyer may issue a claim for damages resulting from an incorrect answer. A buyer’s lawyers may also commission an enviro report. This should higlight if there is a recorded flood risk. If so, further inquiries should be initiated.
I am buying my first flat in Edingale with the aid of help to buy. The developers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not inform my solicitor about this side-deal as it will impact my mortgage with the lender. 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.
I am looking for a ground for flat up to £305k and found one close by in Edingale I like with a park and railway links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Edingale in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I am employed by a long established estate agency in Edingale where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Edingale conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I acquired a garden flat in Edingale, conveyancing having been completed 4 years ago. How much will my lease extension cost? Equivalent properties in Edingale with an extended lease are worth £185,000. The ground rent is £65 invoiced every year. The lease expires on 21st October 2086
You have 61 years unexpired we estimate the price of your lease extension to range between £18,100 and £20,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.