I am in need of a property lawyer. Do I opt for a web based conveyancer or a high street Audenshaw conveyancing lawyer?
Generally conveyancing solicitors in your neck of the woods will have good alliances with your local authority, which could help with the Audenshaw conveyancing searches that your lawyer will require on your transaction. It also helps if they enjoy good relationships with the Local Land Registry Office your area Audenshaw, other lawyers in the location and Audenshaw Estate Agents.
Our son-in-law is in the process of securing a new build apartment in Audenshaw with a home loan from HSBC. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Why is leasehold purchase conveyancing in Audenshaw is more expensive?
Audenshaw leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am thinking of mortgaging my property in Audenshaw, does my lawyer have to be on the Lloyds Solicitor panel?
In theory, you could use a solicitor that is not on the Lloyds conveyancing panel, but Lloyds would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I am the sole beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Audenshaw. The Audenshaw property was put into my name in December. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership will be regarded the same way as though I had purchased the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. How sensible a view lenders take of it, depend on the lender as this requirement is primarily there to pick up on subsales or the wholesaling and assigning of properties.
Completion of my remortgage has taken place for my property in Audenshaw. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Leeds Building Society have agreed my mortgage in principle, my offer on a apartment in Audenshaw has been agreed to, what happens next?
The estate agent will wish to be informed of your lawyer's details (be sure the property lawyers are on the lender’s approved list). Contact Leeds Building Society or your financial adviser and finalise any appropriate documentation. Leeds Building Society will appoint a valuer who will get in touch with the estate agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes on average a week to receive the mortgage offer. Leeds Building Society will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Audenshaw.
I'm buying my first flat in Audenshaw with a mortgage from Godiva Mortgages Ltd. The sellers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not inform my solicitor about the deal as it will impact my mortgage with Godiva Mortgages Ltd. Is this normal?.
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.