My wife and I are soon to complete on the purchase of a house in Wylam but as a result of wreckage from a small fire at the property I have was able negotiate recompense from the owner in the sum of £3k by way of a reduction in the price. This was going to be dealt with as part of amending the contract however Nottingham are not allowing this. Why were they informed?
Your conveyancer that is on the Nottingham conveyancing panel is duty bound to inform Nottingham of any amendments to the sale price. If you were to refuse your conveyancer to notify the price change to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new property lawyer for your conveyancing in Wylam.
Can I be sure that the Wylam conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Wylam getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor carrying out your transaction.
I have paid off my mortgage with UBS. I assume I don't need a Wylam lawyer on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
Planning on purchasing a flat in Wylam. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wylam conveyancing practitioner is on the Lloyds conveyancing panel.
My wife and I are selling our house in Wylam and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Wylam lawyer would know that there is no such problem. For the life of me I don't know why the purchasers are using a factory type conveyancing practice as opposed to a conveyancing solicitor in Wylam. Having lived in Wylam for many years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I'm purchasing a new build house in Wylam with a mortgage from Virgin Money. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not disclose to my solicitor about the side-deal as it will affect my loan with the lender. Should I keep quiet?.
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 UK Finance website. UK Finance 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 need to appoint a conveyancing solicitor for some conveyancing in Wylam. I have land on a site which appears to be the ideal offering If there is a chance to get all this stuff completed via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
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 am employed by a long established estate agency in Wylam where we see a number of leasehold sales put at risk due to short leases. I have received conflicting advice from local Wylam conveyancing solicitors. Please can you clarify whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I own a 1 bedroom flat in Wylam, conveyancing having been completed in 2011. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Wylam with over 90 years remaining are worth £165,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease terminates on 21st October 2103
With 77 years unexpired the likely cost is going to span between £7,600 and £8,800 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.