It has come to my attention via my broker that my Blackfriars the law firm I have appointed is not on the lender Solicitor panel. How can I be certain whether this is indeed the case?
The sensible course of action for you to take is to call your Blackfriars lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
The housing market in Blackfriars is heating up. What can I do to speed up matters?
In a situation where the seller is applying pressure for your conveyancing it is advisable to make sure that your conveyancer is familiar with the location as they will have local contacts and know-how. It is even conceivable that they may have handled otherhomes in the same road. You would be best advised to use a Blackfriars conveyancing firm. In addition, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Blackfriars conveyancing transactions are suspended or derailed after discovering a buyer’s lawyer was not on their banks panel. This can often result in the transaction being delayed by as much as three weeks. It is understood that this issue affects in the region of 100,000 home sales annually. Almost all Blackfriars conveyancing firms can not act for certain mortgage companies so do check as early as possible.
I am buying my first flat in Blackfriars with the aid of help to buy. The builders would not reduce the price so I negotiated 6k of additionals instead. The estate agent advised me not to tell my lawyer about the deal as it may impact my mortgage with Yorkshire Building Society. 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 am looking for a flat up to £245,000 and identified one round the corner in Blackfriars I like with a park and station in the vicinity, however it's only got 49 years on the lease. I can't really find anything else in Blackfriars suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Should I appoint a Blackfriars conveyancing solicitor who is local to the property I am buying? We have a good friend who can handle the legal work however they are based a couple of hundredmiles away.
The benefit of a local Blackfriars conveyancing firm is that you can drop in to execute documents, deliver your ID and pester them if necessary. Having local Blackfriars know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and they were impressed that must outweigh using an unknown Blackfriars conveyancing solicitor just because they are local.
We have been advised by many estate agents to expect 6-8 weeks for Blackfriars conveyancing to complete.This was four weeks ago. The property information was only sent from the vendors conveyancer a few days ago so does the clock start running now?
It would be unwise bank on counting down any 6-8 week suggested period. Answering accurately how long Blackfriars conveyancing will take is virtually impossible. Without fail every Blackfriars conveyancing transaction has it’s specific set of issues. As a result your solicitor will find it difficult to predict the a precise timescale to complete conveyancing in Blackfriars.