Me and my partner are due to exchange buying a property in Strood but as a result of wreckage from some water damage at the property I have was able negotiate reparation from the current proprietors in the sum of £3k taking the form of a reduction in the price. This was going to be addressed as part of the conveyancing process yet UBS will not permit this. Should they have been informed?
The property lawyer being on the UBS conveyancing panel is duty bound to advise UBS of any amendments to the sale price. If you were to refuse your conveyancing practitioner to notify the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancer for your conveyancing in Strood.
We wanted to use a property lawyer in Strood for our home move. Our broker has since advised us that our mortgage company The Royal Bank of Scotland won't deal with them. Surely this is unfair competition?
Before the recession most mortgage companies had a different appetite for risk. Almost all Strood conveyancing firms would have been on many lender panels. The FSA in 2010 carried out a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms concerning their operations and their employees as well as set certain criteria such a completing on a minimum number of conveyancing. Many Strood conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Strood is one of the numerous areas where the conveyancers showing on our search results are members of the panel for The Royal Bank of Scotland.
Should our conveyancer be asking questions concerning flooding as part of the conveyancing in Strood.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Strood. Some people will purchase a property in Strood, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a various checks that can be initiated by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Strood. The conventional set of information given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to determine whether the premises has ever been flooded. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser could commence a legal claim for losses stemming from an incorrect reply. A purchaser’s lawyers may also order an enviro search. This will indicate whether there is any known flood risk. If so, more detailed inquiries will need to be initiated.
I have recentlybecome aware that Action Conveyancing have closed. They carried out my conveyancing in Strood for a purchase of a freehold house 10 months ago. How can I be sure that the property is registered correctly in the name of the previous owner?
The quickest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Strood conveyancing specialists.
What can I expect to pay for conveyancing in Strood?
Almost all Strood conveyancing practices will charge a standard fee. In the event that extra work arise during the transaction your lawyer is duty bound to inform you in writing of such supplemental fees for any work as soon as it becomes apparent. Some work on a no sale no fee offering, others will charge a proportion of the set costs, calculated based on the point at which the transaction does not go ahead.
It is advisable to seek various firms to give you an estimate.