We are due to exchange on the purchase of a property in Frizington but as a consequence of damage from some water damage at the property I have was able negotiate reparation from the owner in the sum of £2k taking the form of a reduction in the price. This was going to be addressed as part of a side agreement yet Principality will not permit this. Should they have been approached?
The conveyancer being on a Principality conveyancing panel is obliged to inform Principality of any amendments to the purchase price. If you were to refuse your property lawyer to disclose the price change to Principality then they would have to discontinue acting for you. In addition, Principality and you would have to appoint a new property lawyer for your conveyancing in Frizington.
My home in Frizington is up for sale and I have a buyer. Does my solicitor have to be on the Virgin Money conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
It has been 3 months following my purchase conveyancing in Frizington concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the encouragement of my in-laws I had a survey completed on a property in Frizington before instructing lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some banks will not give a mortgage on a flying freehold house.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Frizington. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been advised by a number of selling agents in Frizington to select a solicitor using your seach tool. Is there a financial inducement for Estate Agents to offer your site over and above another?
We don’t give any commission for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I am on look out for some leasehold conveyancing in Frizington. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and almost all are in Frizington - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Frizington - A selection of Queries Prior to Purchasing
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What is the annual maintenance fee and ground rent? Who manages the building? Make sure you enquire if there are any onerous restrictions in the lease. For instance it is reasonably common in Frizington leases that pets are not permitted in certain buildings in Frizington. If you love the propertyin Frizington yet your cat can’t move with you then you will be presented with a hard choice.