My Conveyancer in Abercarn has never been on on the Norwich and Peterborough Building Society Solicitor Panel. Can I still retain my prefered solicitor notwithstanding that they are excluded from the Norwich and Peterborough Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Abercarn solicitors but Norwich and Peterborough Building Society will need to use a solicitor on their list of acceptable firms. This will result in additional total conveyancing fees and cause delays.
- Get an alternative lawyer to to deal with the conveyancing, obviously checking they are Norwich and Peterborough Building Society approved.
- Persuade your Norwich and Peterborough Building Society based solicitor to attempt to join the Norwich and Peterborough Building Society panel
Should my solicitor be raising questions regarding flooding as part of the conveyancing in Abercarn.
Flooding is a growing risk for solicitors dealing with homes in Abercarn. Some people will buy a property in Abercarn, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a number of checks that can be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Abercarn. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the vendor to discover if the premises has historically flooded. If the property has been flooded in past and is not revealed by the owner, then a buyer could commence a legal claim for losses as a result of such an inaccurate answer. A buyer’s solicitors should also carry out an environmental search. This will indicate if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
How does conveyancing in Abercarn differ for new build properties?
Most buyers of new build residence in Abercarn contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Abercarn typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Abercarn or who has acted in the same development.
Back In 2006, I bought a leasehold flat in Abercarn. Conveyancing and Santander mortgage organised. I have received a letter from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing solicitor in Abercarn who acted for me is not around. Any advice?
First contact the Land Registry to make sure that the individual purporting to own the freehold is indeed the new freeholder. It is not necessary to instruct a Abercarn conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I purchased a split level flat in Abercarn, conveyancing formalities finalised 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Abercarn with over 90 years remaining are worth £181,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2075
With only 50 years remaining on your lease we estimate the premium for your lease extension to be between £32,300 and £37,400 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.
My husband and I have an offer in principle from HSBC Bank who said we could borrow up to £218k. When do we need to instruct a solicitor for conveyancing? Abercarn is where we are .
It would be wise to instruct a property lawyer now so that the property lawyer can open the ledger so they can commence the ID checks etc. If and when you wish them to start work they will seek a payment on account usually about £225. That should generally be after you have the mortgage offer and valuation report, however if you wish to speed the process you can start the ball rolling sooner even though you may be risking some money.