Me and my partner are due to complete buying a property in Swavesey but as a consequence of wreckage from a small fire at the property I have managed to agree reparation from the owner of £3k by way of a reduction in the price. This was going to be dealt with as part of amending the contract yet Nottingham will not permit this. Should they have been approached?
The solicitor being on the Nottingham conveyancing panel is obliged to disclose to Nottingham of any changes to the purchase price. If you prohibit 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 solicitor for your conveyancing in Swavesey.
We wanted to use a conveyancing solicitor in Swavesey for our house move. Our financial adviser has since notified us that our mortgage lenders Virgin Money won't deal with them. Surely this is unduly restrictive?
Lenders ordinarily imposes restrictions either the category or the volume of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the profile of firm, some have reduced the amount of firms they use to represent them. You should note that Virgin Money have no responsibility for the quality of advice provided by any member of Virgin Money Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there remains mixed opinions about the level of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that hundreds of law firms, including some in or near Swavesey only perform one or two conveyances per annum.
Should our conveyancer be raising enquiries about flooding during the conveyancing in Swavesey.
Flooding is a growing risk for conveyancers dealing with homes in Swavesey. Some people will buy a house in Swavesey, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a number of searches that can be undertaken by the buyer or by their conveyancers which should figure out the risks in Swavesey. The conventional set of property information forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to determine whether the property has suffered from flooding. If the premises has been flooded in past which is not revealed by the owner, then a buyer could issue a legal claim for losses stemming from an inaccurate answer. The purchaser’s solicitors should also commission an enviro search. This should reveal if there is a recorded flood risk. If so, additional investigations will need to be conducted.
How does conveyancing in Swavesey differ for new build properties?
Most buyers of new build property in Swavesey contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Swavesey typically purchase the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Swavesey or who has acted in the same development.
My father-in-law has recommend that I instruct his conveyancing solicitors in Swavesey. Should I find my own property lawyer?
There are no two ways about it the best way to choose a conveyancing lawyer is to seek feedback from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.