I am soon to exchange on the purchase of a house in Aldwych but as a result of damage from a small fire at the property I have was able negotiate compensation from the vendor in the sum of £3k in the form of a adjustment in the price. I had intended this to be addressed as part of amending the contract but Nottingham will not agree to this. Should they have been involved?
Any conveyancing practitioner that is on the Nottingham conveyancing panel is duty bound to advise Nottingham of any variations to the purchase price. If you were to refuse your conveyancing practitioner to disclose the reduction 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 Aldwych.
I own a freehold residence in Aldwych but still charged rent, why is this and what is this?
It is rare for properties in Aldwych and has limited impact for conveyancing in Aldwych 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
Due to the guidance of my in-laws I had a survey completed on a property in Aldwych prior to retaining lawyers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some banks may refuse to give a loan on such a home.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Aldwych. Conveyancing will be smoother if you use a solicitor in Aldwych especially if they regularly deal with such properties in Aldwych.
How do I identify a Aldwych solicitor on the Nottingham Building Society conveyancing panel? I have wheels and am willing to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the tool on this website. Please select a mortgage company and your location and you will see a number of Aldwych conveyancing lawyers locally. We have detailed some Aldwych conveyancing firms towards the end of this page and you can call them to check whether they are on the Nottingham Building Society approved list
I have finally had an offer on an apartment in Aldwych agreed to, the vendor does however have a tied purchase. The vendors have submitted an offer on a property, but it’s not yet agreed to, and has viewings of other apartments booked. I have chosen a local conveyancing lawyer in Aldwych. What do I do now? When do I get the mortgage application with Clydesdale started with Clydesdale?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then valuation, Aldwych conveyancing search charges, etc). First, you should ensure that your lawyer is on the Clydesdale approved list. Concerning the subsequent phase this very much depends on the specifics of your case, desire for this property and on the state of the market. In a hot market some purchasers will apply for the mortgage with Clydesdale and pay for the survey and only if it comes back ok would they request their solicitor to proceed with the conveyancing in Aldwych.