We are buying our first property. Our lawyer has e-mailedto ask if we want to take out additional conveyancing searches. We are really unsure what's recommended for conveyancing in Braintree
The range of Braintree conveyancing searches should be triggered based entirely on the premises, the location, the possibility of any of these risks, your knowledge of the locality and risks, your overall attitude to risk. What is important is that you properly comprehend what information the searches could provide. You may then decide if you personally think you need that search. Should you be unsure, ask your conveyancing practitioner to provide guidance.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to appoint a local conveyancing solicitor in Braintree?
You should check but the chances are that allocate you one of their panel solicitors where you take up the "fee-free" deal. Contact the bank and see if they offer you a cash alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Braintree.
I require expedited conveyancing in Braintree as I am under a deadline to complete in less than one month. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not getting a mortgage you are at free not to have searches carried out although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Braintree the following are instances of issues that can crop up and adversely affect future mortgageability: Enforcement Actions, Overdue Charges, Overdue Grants, Road Schemes,...
five months have elapsed following my purchase conveyancing in Braintree took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Braintree benefiting from help to buy. The developers would not budge the price so I negotiated 6k of extras instead. The estate agent advised me not reveal to my conveyancer about the deal as it could impact my mortgage with the lender. 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've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Braintree is where the house is located. Can you offer any opinion?
Flying freeholds in Braintree are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Braintree you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Braintree may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.