We are due to exchange on the purchase of a property in Margate but as a result of damage from the recent storms I have was able negotiate recompense from the owner in the sum of £2k taking the form of a reduction in the price. This was going to be dealt with as part of amending the contract however Coventry BS will not agree to this. Why were they approached?
The solicitor being on a Coventry BS conveyancing panel is duty bound to advise Coventry BS of any variations to the purchase price. If you prohibit your conveyancer to report the reduction to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new lawyer for your conveyancing in Margate.
I am purchasing a house and the lawyer has raised the issue of Chancel Repair to which the property may be liable given it’s proximity to the area of such a church. She has recommended insurance. Is this really appropriate for conveyancing in Margate
Unless a previous purchase of the premises completed post 12 October 2013 you may assume that conveyancing practitioners handling conveyancing in Margate to continue to suggest a chancel search and or insurance against a claim.
four months have elapsed since my purchase conveyancing in Margate concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 premises 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'm buying my first flat in Margate with a mortgage from Lloyds TSB Bank. The sellers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not to tell my conveyancer about this extras as it could adversely affect my mortgage with the bank. 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 opted to have a survey completed on a property in Margate before instructing lawyers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not issue a loan on this type of home.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Margate. Conveyancing will be smoother if you use a solicitor in Margate especially if they regularly deal with such properties in Margate.
Given that I will soon spend hundreds of thousands of pounds on 3 bedroom house in Margate I would like to talk to a lawyer regarding thetransaction in advance of appointing the firm. Can this be arranged?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you liaising with the conveyancer due to be carrying out your conveyancing in Margate.There is no ‘factory style conveyancing’ - each client is unique person, not a case number. The practices that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Margate should be the amount on the final invoice that you end up paying.