My wife and I are looking to acquire a house in Rottingdean and have instructed a Rottingdean conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. National Westminster Bank have this evening contacted us to inform me that there is now an issue as our Rottingdean conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Rottingdean lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We are buying a flat and require a conveyancing solicitor in Rottingdean who is on the Bank of Ireland approved panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don't recommend any particular firms conducting conveyancing in Rottingdean.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when purchasing a property in Rottingdean? or Apparently there is a law dating back centuries that means some house owners living in a parish church boundary may be liable to contribute towards repairs towards the chancel in proximity to the church. Is this suitable for conveyancing in Rottingdean?
Unless a prior acquisition of the house took place post 12 October 2013 you could assume that conveyancing practitioners delivering conveyancing in Rottingdean to remain recommending a chancel search and or insurance against a claim.
4 months have gone by since my purchase conveyancing in Rottingdean completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 residence 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.
I am purchasing a new build house in Rottingdean benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep advised me not to tell my conveyancer about the extras as it could affect my mortgage with the lender. Should I keep quiet?.
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.
Can you offer any advice when it comes to appointing a Rottingdean conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Rottingdean conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Rottingdean conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
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If the firm is not ALEP accredited then why not? Can they put you in touch with clients in Rottingdean who can give a testimonial?
Rottingdean Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
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It is important to be aware if redecorating or some other significant cost is anticipated that will be shared between the tenants and will materially impact the level of the service fees or necessitate a one time payment. It would be wise to find out as much as you can concerning the company managing the building as they can either make life much simpler or problematic. Being a leasehold owner you are frequently at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the upkeep of the common parts. Enquire of prospective neighbours whether they are happy with them. In conclusion, be sure you discover the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending that money. Does the lease have onerous restrictions?