I decided to go with a Brandon based solicitor for our conveyancing in Brandon last week. Reviewing the fine print it is apparent thatI am on the hook for costs even if our purchase doesn't happen. Should I ditch them and select a web based conveyancing brokerage who offer no completion no cost conveyancing in Brandon?
It is usually a trade off in that if "No Completion No Fee" is advertised then the conveyancing charges will tend to be be more expensive to counteract the transactions that fail to complete. You should be mindful that such promotions generally do not cover outlay such your Brandon conveyancing search expenses.
This question may be naive but I am unexperienced as FTB of a ground floor flat in Brandon. Do I receive the keys to the property on the completion date from my lawyer? If so, I will appoint a local conveyancing solicitor in Brandon?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the seller's solicitors, and once they have received this, you will be able to receive the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
I am purchasing a property in Brandon. An unusual aspect is that the roof has a solar panel. Clydesdale have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Clydesdale your lawyer must check the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Clydesdale where a lease does not satisfy these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Brandon.
We expect to receive a DIP from Virgin Money this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Brandon solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Brandon solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
The deeds to our house are lost. The lawyers who dealt with the conveyancing in Brandon 4 years ago have long since closed. Will I be able to sell the house?
Assuming you have a registered title the details of your ownership will be retained by the Land Registry under a Title Number. It is easy to perform a search at the Land Registry, identify your property and obtain current copies of the property title for a small fee. Where the title is Leasehold then the Land Registry will also normally hold a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I am purchasing a new build house in Brandon with a mortgage from Chelsea Building Society. The developers refused to budge the amount so I negotiated 6k of additionals instead. The sale representative suggested that I not inform my lawyer about the side-deal as it may jeopardize my mortgage with Chelsea Building Society. 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.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Brandon is where the house is located. Can you shed any light on this issue?
Flying freeholds in Brandon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Brandon you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Brandon may determine 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 property.
We are soon to complete on the purchase a house in Brandon but as a consequence of damage from the recent storms I have agreed compensation from the owner of £3k taking the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet my mortgage company will not permit this. Why were they approached?
The conveyancer that is on a mortgage company approved list is duty bound to inform the mortgage company of any amendments to the purchase figure. If you did not allow your conveyancer to notify the reduction to your lender then they would have to disinstructing themselves from representing you and the bank.