Will lawyers ask for an advanced payment for conveyancing in Bosham?
If you are buying a property in Bosham your solicitor will ask you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the sale price then this should be required shortly in advance of contracts are exchanged. The final balance that is needed will be payable shortly before completion.
I have a decision in principle. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would much rather use a local conveyancing solicitor in Bosham?
You should check but the chances are that give you one of their panel conveyancers if you want the "fee-free" offer. Call the bank to explore if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Bosham.
Is it correct that all Bosham CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing list of approved firms?
Some major lenders now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I have decided to exercise my right to buy my property in Bosham off the council. I have a mortgage offer with UBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Bosham solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bosham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I'm purchasing my first flat in Bosham with the aid of help to buy. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not disclose to my lawyer about this side-deal as it may jeopardize my loan with Coventry Building Society. 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.
Should I be wary by brokers that I am dealing with are recommending an internet conveyancing firm as opposed to a High Street Bosham conveyancing practice?
As is the case with lots of service providers, often suggestions from family and friends can be most helpful. But there are lots of players in a conveyancing transaction; estate agents, financial adviser and banks may put forward conveyancers to choose. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the recommendation. You are free to choose your own lawyer. However, bear in mind that many banks operate an approved list of lawyers you must use for the lender aspect of your transaction.
One month into buying a house in Bosham. Conveyancing lawyer has told us the property is "Leasehold". Will this likely make a difference on the marketability of the property?
Bosham conveyancing does not ordinarily involve leasehold houses. The key consideration here is the remaining lease term and the ground rent. If it's 999 years with a peppercorn rent, it's essentially freehold, so it shouldn't impact the value significantly.
At the other end of the spectrum, if it's, say, fifty five years it is bound to have a adverse impact on the saleability, and most likely wouldn't be acceptable to the lender. The length of lease and ground rent will be stated in the lease which should be made available to your solicitor.