My wife and I are about to complete on the purchase of a house in Northop but as a consequence of wreckage from some water damage at the property I have was able negotiate reparation from the owner of six thousand pounds in the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process however Nottingham will not permit this. Why were they notified?
Any conveyancer being on a Nottingham approved list is required to disclose to Nottingham of any changes to the sale price. If you were to refuse your conveyancer to notify the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new lawyer for your conveyancing in Northop.
I am the registered owner of a freehold property in Northop yet pay rent, why is this and what is this?
It’s unusual for properties in Northop and has limited impact for conveyancing in Northop but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
My Conveyancer in Northop is not on the Nottingham Building Society Approved Panel. Is it possible for me to continue with my prefered solicitor even though they are excluded from the Nottingham Building Society approved list?
Your options are as follows:
- Carry on with your existing Northop lawyers but Nottingham Building Society will need to use a conveyancer on their panel. This will inevitably rack up the total legal fees and result in delays.
- Choose a new solicitor to to deal with the purchase, obviously checking they are on the Nottingham Building Society panel
I am selling our property in Northop and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Northop lawyer would know that there is no such problem. For the life of me I don't know why the buyers used a web based conveyancing outfit as opposed to a conveyancing solicitor in Northop. We have lived in Northop for three years we know of no issue. Do we contact our local Authority to get clarification need.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You should 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 health insurance to cover that same ailment)
When it comes to my conveyancing in Northop should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Northop conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.