I plan on purchasing a maisonette in Brundall. My Solicitor is not on the lender solicitor panel. Can I still continue with my Brundall conveyancing solicitor notwithstanding that they are not on the bank list of approved lawyers?
You will need to use a conveyancing practitioner to deal with the formalities when you take out a mortgage to buy your home. The property lawyer will conduct all the relevant due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can appoint a Brundall solicitor of your choice. Nevertheless, if the lawyer selected is not on the bank approved list additional fees will arise as separate legal representation will be required by them. Lender panel applications can be submitted, so if your solicitor has not in the past applied for membership they should do so.
At what point can the exchange of contracts take place for purchase conveyancing in Brundall and do I need to attend the lawyers office?
If you are in close proximity to our conveyancing solicitors in Brundall you are welcome to come in to sign the paperwork. However, the firms we recommend offer countrywide coverage for conveyancing and give just as detailed and professional a job for you when dealing with you electronically. The signing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the solicitor to officially exchange at the appropriate time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Brundall)to be in the office at the appropriate time.
When it comes to mortgage companies such as Yorkshire BS, do Brundall conveyancers incur a fee to be on the conveyancing panel?
We are not aware of any bank fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We are getting the release of further funds on our mortgage from UBS as we want to conduct a loft conversion to our house in Brundall. Do we need to appoint a bricks and mortar Brundall solicitor on the UBS conveyancing panel to handle the paperwork?
UBS do not ordinarily instruct a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS list.
I am currently in the process of buying my council flat in Brundall. I have a mortgage offer with Lloyds. Conveyancing is new to me. 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 Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
It has been 3 months following my purchase conveyancing in Brundall completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 premises 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'm purchasing a new build house in Brundall benefiting from help to buy. The sellers would not move on the price so I negotiated 6k of additionals instead. The property agent told me not reveal to my lawyer about this extras as it will adversely affect my loan 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.
Why do Brundall conveyancing fees differ for leasehold and freehold properties?
Inevitably there is more work required in leasehold conveyancing. Brundall has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.