My wife and I are due to complete buying a property in Flitwick but as a result of wreckage from the recent storms I have was able negotiate reparation from the current proprietors of three thousand pounds by way of a reduction in the price. I had intended this to be addressed as part of amending the contract but Co-operative will not agree to this. Why were they involved?
The conveyancing practitioner that is on a Co-operative conveyancing panel is required to inform Co-operative of any changes to the purchase price. If you were to refuse your conveyancing practitioner to report the reduction to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new lawyer for your conveyancing in Flitwick.
Do conveyancers ask for money up-front when it comes to conveyancing in Flitwick?
If you are buying a property in Flitwick your lawyer will ask you to provide them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. When the down payment is as part of the purchase price then this will be needed immediately prior to exchange of contracts. Any further balance that is due will be payable shortly before completion.
Over the last few months I have been searching for a flat up to £195,000 and identified one near me in Flitwick I like with amenity areas and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Flitwick in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Flitwick and how can you help?
The particular law that you refer to provides protection to business lessees, granting the dueness to apply to court for a new lease and continue in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Flitwick is one of our hundreds of locations in which the firms we work with are located
My conveyancing solicitor in Flitwick has requested from me identification documents stating that this is part of his legal duty as a conveyancer on the lender Conveyancing panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Flitwick