Am I correct in assuming that the fact that my conveyancer in Bolton is not on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Bolton conveyancing firm and enquire why they are no longer on the approved list for your lender.
Should my solicitor be raising enquiries about flooding during the conveyancing in Bolton.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Bolton. Plenty of people will acquire a house in Bolton, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a numerous searches that may be undertaken by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Bolton. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to find out whether the property has historically flooded. In the event that the property has been flooded in past and is not notified by the seller, then a purchaser could bring a compensation claim as a result of such an inaccurate answer. The buyer’s solicitors may also carry out an enviro search. This should indicate if there is any known flood risk. If so, more detailed inquiries should be made.
Are there restrictive covenants that are commonly identified during conveyancing in Bolton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Bolton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Bolton with the aid of help to buy. The sellers refused to budge the price so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my lawyer about the deal as it may adversely affect my mortgage with the bank. Is this normal?.
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 selling my home. My past solicitors has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Bolton if that makes a difference.
You should use our search tool to help you choose a solicitor for your conveyancing in Bolton. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
When it comes to my conveyancing in Bolton should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Bolton conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.