My partner and I are purchasing our first house. The lawyer has messagedto enquire if we would like to order additional conveyancing searches. As novices we are clueless as to what's relevant for conveyancing in Berkeley
The type of Berkeley conveyancing searches depends primarily on the property, the location, the probability of any of these risks, your familiarity of the area and risks, your general attitude to risk. What is important is that you properly understand what information the searches could give you. You may then make a decision if you consider that you need that information. Should you be uncertain, ask your lawyer to advise.
We're in Berkeley, First timers purchasing with a mortgage (lender is RBS , and our solicitor is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
Will our conveyancer be making enquiries concerning flooding during the conveyancing in Berkeley.
Flooding is a growing risk for conveyancers conducting conveyancing in Berkeley. There are those who purchase a house in Berkeley, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, but there are a numerous searches that can be carried out by the buyer or by their conveyancers which can give them a better understanding of the risks in Berkeley. The standard completed inquiry forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to discover if the property has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a purchaser may commence a legal claim for losses stemming from an misleading response. The buyer’s conveyancers may also commission an enviro report. This will disclose if there is any known flood risk. If so, further investigations should be carried out.
I'm buying my first flat in Berkeley with a mortgage from Godiva Mortgages Ltd. The builders refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not inform my lawyer about this side-deal as it could jeopardize my loan with the bank. 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.
We're new to the buying process - agreed a price, yet the estate agent told us that the owners will only proceed if we use their chosen lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor accustomed to conveyancing in Berkeley
We suspect that the seller is not behind this requirement. Should the owner require ‘a quick sale', taking such a hostile approach to a genuine purchaser is going to damage their objectives. Speak to the vendors direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you will continue to instruct your own,trusted Berkeley conveyancing solicitors - as opposed tothose that will provide their negotiator at the agency a introducer fee or achieve conveyancing thresholds set by senior management.
Partway through the sale of a leasehold flat in Berkeley. Conveyancing solicitors are doing their job but we have been asked to pay a fortune by the freeholder. So far we have forked out £237 for a leasehold management pack and then another £200 plus VAT for answers to queries raised by the purchaser's solicitor.
You will not have control over the extent of the bill for this information but the typical costs for the information for Berkeley leasehold premises is £360. When it comes to Berkeley conveyancing deals it is usual for the owner to cover the costs. The freeholder or their agents are under no statutory obligation to answer such questions although many will agree to do so - albeit often at high prices where the fees bear little relation to the work involved. Regretfully there is no legislation that requires fixed fees for administrative tasks. Nor is there any set time frame by which they are obliged to supply the information.