I am being advised by my lawyer that chancel insurance is needed on my purchase. What is the level of cover for Bedfont conveyancing?
The right level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
We had instructed conveyancers based in Bedfont on the TSB solicitor panel. They have just invoiced me a separate fee for dealing with the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancer may charge a fee for this. The charge is not set by TSB but by your Bedfont conveyancer. Some firms on the TSB panel will quote ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Bedfont building society branch on various occasions and was told it wasn't an issue and they would lend. My Bedfont conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the lawyer is on the bank approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I require expedited conveyancing in Bedfont as I am under a deadline to exchange contracts within 2 weeks. Thankfully I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
If.Given you are are a cash buyer you have the choice not to do searches although no conveyancer would advise that you don't. Drawing on our experience of conveyancing in Bedfont the following are examples of what can show up and therefore impact market value: Enforcement Notices, Outstanding Fees, Outstanding Grants, Unadopted Roads,...
I'm buying a new build house in Bedfont benefiting from help to buy. The builders would not reduce the amount so I negotiated 6k of extras instead. The property agent advised me not inform my solicitor about the deal as it may affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
I have been on the look out for a ground for flat up to £195,000 and found one close by in Bedfont I like with a park and station nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Bedfont in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
In my capacity as executor for the estate of my father I am disposing of a house in Neath but live in Bedfont. My solicitor (based 235 miles from meneeds me to execute a stat dec ahead of completion. Can you recommend a conveyancing practitioner in Bedfont who can attest and place their company stamp on the document?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are Bedfont based
Is there a distinction between surveying and conveyancing in Bedfont?
Conveyancing - in Bedfont or elsewhere - is the process of legally transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the purchase price down or asking the seller to remedy the defects prior to you complete your move.