We are about to exchange on the purchase of a property in Rutland but as a result of damage from a small fire at the property I have managed to agree reparation from the vendor in the sum of £2k by way of a adjustment in the price. This was going to be dealt with as part of the conveyancing process but Nottingham are not allowing this. Why were they notified?
Your conveyancing practitioner that is on a Nottingham conveyancing panel is duty bound to advise Nottingham of any changes to the sale price. If you were to refuse your property lawyer to report the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new conveyancing practitioner for your conveyancing in Rutland.
Will lawyers request money on account for my conveyancing in Rutland?
If you are buying a property in Rutland your solicitor will request that you put them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the purchase price then this will be needed shortly before contracts are exchanged. The closing balance that is due should be sent to your lawyer a couple of days prior to the day of completion.
I am helping my aunt sell her house in Rutland. Will the conveyancing solicitor arrange an EPC or should I organise this?
Following the demise of Home Packs, EPC’s was maintained a compulsory component of selling a house. An energy assessment must be to hand in advance of the property being advertised. This is not a task that conveyancers normally organise. If you are using a Rutland conveyancing practitioner they might help arrange EPC’s due to their contacts with reputable local assessors
My wife and I have arranged the release of further funds on our home loan from Yorkshire BS as we intend to carry out a loft conversion to our property in Rutland. Are we obliged to select a high street Rutland solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS would not normally appoint a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS panel.
The formalities of my remortgage has taken place for my property in Rutland. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I know that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when buying a residence in Rutland? or I am told that there is an ancient law that could mean that homeowners residing in a parish church boundary may be liable to pay for repairs towards the chancel within the church. Is this appropriate for conveyancing in Rutland?
Unless a previous acquisition of the house completed after 12 October 2013 you could take it that solicitors handling conveyancing in Rutland to remain encouraging a chancel search and or chancel repair liability insurance.
I decided to have a survey carried out on a property in Rutland ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders will refuse to grant a mortgage on this type of premises.
It varies from the lender to lender. Lloyds has different instructions for example to Birmingham Midshires. If you contact us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rutland. Conveyancing may be slightly more expensive based on your lender's requirements.
Estate agents have just been given the go-ahead to market my basement flat in Rutland. Conveyancing is yet to be initiated, but I have just received a quarterly service charge invoice – Do I pay up?
The sensible thing to do is pay the maintenance contribution as you normally would given that all rents and maintenance charges will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Rutland Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
-
Many Rutland leasehold flats will incur a service bill for maintenance of the building set by the management company. Should you acquire the apartment you will have to pay this liability, normally periodically accross the year. This may differ from several hundred pounds to thousands of pounds for large purpose-built buildings. In all likelihood there will be a ground rent for you to pay annual, this is usually not a exorbitant amount, say approximately £50-£100 but you should to check as occasionally it can be many hundreds of pounds. Generally speaking the cost for major works tend not to be included within service charges, albeit that a few managing agents in Rutland require leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for major works. You should be aware if it is less than 80 years it will impact the value of the apartment. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth finding out what this will be. Remember, in most cases you will be be obliged to have been the owner of the premises for 24 months before you are eligible to carry out a lease extension.