We are due to complete buying a house in Norfolk but as a result of wreckage from the recent storms I have was able negotiate reparation from the current proprietors in the sum of six thousand pounds taking the form of a reduction in the price. This was going to be dealt with as part of amending the contract however Barclays are not allowing this. Why were they involved?
Your conveyancer that is on the Barclays conveyancing panel is required to advise Barclays of any amendments to the purchase price. If you prohibit your conveyancing practitioner to notify the reduction to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new property lawyer for your conveyancing in Norfolk.
Will my lawyer be raising enquiries regarding flooding as part of the conveyancing in Norfolk.
The risk of flooding is if increasing concern for solicitors dealing with homes in Norfolk. Plenty of people will acquire a house in Norfolk, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, however there are a number of searches that can be undertaken by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Norfolk. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to discover if the premises has historically flooded. If flooding has previously occurred and is not notified by the seller, then a buyer may bring a claim for damages as a result of such an inaccurate reply. A buyer’s solicitors will also conduct an environmental report. This will disclose if there is a recorded flood risk. If so, more detailed inquiries should be made.
I'm buying my first flat in Norfolk benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not disclose to my solicitor about the side-deal as it could jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Norfolk is the location of the property. Is there any advice you can give?
Flying freeholds in Norfolk are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Norfolk you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Norfolk may determine 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.
I need to appoint a conveyancing solicitor for my conveyancing in Norfolk. I happened to chance upon a site which appears to be the ideal offering If there is a chance to get all the legals done via email that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I only have 62 years remaining on my flat in Norfolk. I now want to extend my lease but my landlord is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to prove that you or your lawyers have used your best endeavours to locate the landlord. For most situations a specialist may be helpful to carry out a search and prepare an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor both on proving the landlord’s disappearance and the vesting order request to the County Court covering Norfolk.
I acquired a 2 bed flat in Norfolk, conveyancing was carried out June 2010. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Norfolk with a long lease are worth £197,000. The ground rent is £55 levied per year. The lease runs out on 21st October 2080
With 55 years unexpired the likely cost is going to span between £31,400 and £36,200 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.