My husband and I are hoping to buy a house in Alton and are in fact using a Alton conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Birmingham Midshires have this morning contacted us to advise us that they have now hit a problem as our Alton solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Alton solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
We're in Alton, First time buyers buying with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm purchasing my first flat in Alton benefiting from help to buy. The developers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not reveal to my solicitor about the deal as it could affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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 element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Alton is where the house is located. Is there any advice you can give?
Flying freeholds in Alton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Alton you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Alton may decide 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.
Taking into account that I am about to part with 450k on a garden flat in Alton I wish to have a conversation with the lawyer about myconveyancing ahead of giving the go ahead to the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be carrying out your property ownership legalities in Alton.There is no ‘factory style conveyancing’ - every client is an important individual, not a case number. The law firms that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Alton should be the amount on the final invoice that you are charged.
My husband and I are new on the property ladder - had an offer accepted, but the property agent informed us that the seller will only issue a contract if we use their recommended conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a high street solicitor accustomed to conveyancing in Alton
We suspect that the seller is unaware of this requirement. If they desire ‘a quick sale', alienating a serious purchaser is going to damage their objectives. Speak to the owners direct and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you are going to instruct your preferred Alton conveyancing solicitors - not the ones that will provide their negotiator at the agency a introducer fee or meet his conveyancing figures pre-set by corporate headquarters.