As I am unsure how the conveyancing bit works what is the most important piece of guidance you can impart about purchase conveyancing in Bamburgh?
You may not hear this from too many lawyers but conveyancing in Bamburgh and elsewhere in England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there is lots of opportunity for friction between you and other parties involved in the transaction. E.g., the seller, property agent and on occasion a lender. Appointing a law firm for your conveyancing in Bamburgh should not be taken lightly as your conveyancer is your adviser, and is the ONLY person in the legal process whose responsibility is to protect your legal interests and to keep you safe.
We are witnessing a worrying emergence of a "blame" culture- someone must be at fault for the process being so protracted. You should always trust your conveyancer ahead of the other parties when it comes to the legal assignment of property.
I am considering mortgaging my apartment in Bamburgh, does my lawyer have to be on the RBS Solicitor panel?
In theory, you could use a solicitor that is not on the RBS conveyancing panel, but RBS 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 transaction.
Various web forums that I have frequented warn that are the primary reason for hinderance in Bamburgh house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of delay in conveyancing in Bamburgh.
I'm buying a new build house in Bamburgh with a loan from Barclays . The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not to tell my conveyancer about this deal as it would impact my mortgage with the lender. 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 opted to have a survey done on a house in Bamburgh ahead of instructing solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some banks may refuse to give a mortgage on such a property.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bamburgh. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to instruct a Bamburgh conveyancing solicitor based in the vicinity that I am buying? We have a good friend who can deal with the legal work but her office is 200miles drive away.
The benefit of a high street Bamburgh conveyancing firm is that you can pop in to sign documents, present your ID and apply pressure on them if necessary. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were impressed that should trump using an unknown Bamburgh conveyancing lawyer solely due to them being based in the area.