I chose a high street firm for my conveyancing in Mottingham recently. Upon checking the small print I seewe are responsible for charges even if the sale doesn't happen. Should I ditch them and choose an internet conveyancing brokerage promising no completion no cost conveyancing in Mottingham?
It is usually a trade off in that if "No Sale No Fee" is offered then the fee levels will tend to be be higher to neutralise the transactions that do not proceed. You should be mindful that such schemes tend not to protect you from outlay such as Mottingham conveyancing search fees.
Our lawyer has identified a a legal deficiency with the lease for the apartment we are buying in Mottingham. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must check that the bank is content with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. The appropriate lender requirements have to be complied with.
I am the registered owner of a freehold property in Mottingham yet invoiced for rent, why is this and what is this?
It is rare for properties in Mottingham and has limited impact for conveyancing in Mottingham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Will our lawyer be raising enquiries regarding flooding as part of the conveyancing in Mottingham.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Mottingham. Plenty of people will buy a property in Mottingham, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Mottingham. The conventional set of property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to determine whether the property has suffered from flooding. In the event that the residence has been flooded in past and is not revealed by the vendor, then a purchaser may bring a legal claim for losses as a result of such an inaccurate answer. A purchaser’s solicitors should also commission an environmental report. This will disclose if there is any known flood risk. If so, further inquiries should be conducted.
I am purchasing my first flat in Mottingham with a loan from Norwich and Peterborough Building Society. The builders refused to reduce the price so I negotiated 6k of additionals instead. The sale representative suggested that I not reveal to my solicitor about this deal as it may affect my mortgage with the bank. Is this normal?.
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.
Given that I will soon part with over three hundred thousand on a house in Mottingham I wish to have a conversation with the lawyer regarding thehome move ahead of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be delighted to talk to you we do not take any clients on without you first talking to the lawyer due to be doing your conveyancing in Mottingham.There is no ‘factory style conveyancing’ - each client is an important individual, not a case reference. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in Mottingham should be the amount on the final invoice that you end up paying.