The Cornwall conveyancing solicitors that just started acting on my purchase in Cornwall have suddenly closed. They were on acting for me because I had to have a lawyer on the Lloyds conveyancing panel and my family Cornwall lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What do I do now?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
I'm buying a new build house in Cornwall with the aid of help to buy. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The estate agent told me not reveal to my lawyer about the extras as it would put at risk my loan with Santander. Do I keep my lawyer in the dark?.
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 CML website. CML 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've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Cornwall is where the house is located. Can you shed any light on this issue?
Flying freeholds in Cornwall are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cornwall you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cornwall may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are new on the property ladder - agreed a price, but the property agent told us that the seller will only go ahead if we use the agent's preferred lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Cornwall
We suspect that the owner is not behind this request. Should the vendor want ‘a quick sale', alienating a motivated purchaser is not the way to achieve this. Try to communicate with the owners directly and make sure they comprehend that (a)you are motivated buyers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you intend to appoint your preferred Cornwall conveyancing lawyers - as opposed tothe ones that will earn their estate agent a referral fee or hit his conveyancing targets demanded by corporate headquarters.
I have just appointed agents to market my basement flat in Cornwall. Conveyancing has not commenced, but I have just had a half-yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal because all rents and maintenance charges will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a ground floor flat in Cornwall, conveyancing having been completed November 1997. 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? Comparable properties in Cornwall with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 yearly. The lease terminates on 21st October 2073
You have 53 years unexpired we estimate the premium for your lease extension to range between £27,600 and £31,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.