I am progressing with the sale of my flat in Bucklesham and the estate agent has just called to say that the buyers are appointing a new conveyancer. The reason given is that the lender will only engage with solicitors on their approved list. Why would a big named mortgage company only engage with specific solicitors rather the firm that they want to choose for their conveyancing in Bucklesham ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
I am purchasing a house for cash in Bucklesham. I have been living for the previous 15 years in Bucklesham. Conveyancing searches are expensive. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
If you not getting a mortgage, then almost all of the Bucklesham conveyancing searches are at your discretion. Your conveyancer will 'advise', perhaps strongly, that you should have searches completed, but he is duty bound to do this. One thing to bear in mind; if you are going to dispose of the house at a future date, it will likely be be of importance to your future buyer what the searches reveal. Sometimes houses with day to day issues can still show up detrimental search results. A good conveyancing solicitor in Bucklesham will be able to give you some helpful guidance concerning this.
We are looking to buy a house and need a conveyancing solicitor in Bucklesham who is on the Coventry BS conveyancing panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Coventry BS . We don't recommend any particular firms conducting conveyancing in Bucklesham.
I am assisting my mother sell her property in Bucklesham. Will the conveyancing solicitor arrange an energy performance certificate or it is for me to coordinate?
After the abolition of HIPs, EPC’s became a mandatory part of moving property. An energy assessment must be to hand prior to the property being marketed. This is not something that solicitors normally arrange. Where you are using a Bucklesham conveyancing solicitor they may be able to arrange energy performance certificates due to their relationships with reputable local assessors
A friend advised me that in buying a property in Bucklesham there may be various restrictions preventing external changes to a property. Is this right?
We are aware of anumerous of properties in Bucklesham which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Bucklesham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Planning on purchasing a house in Bucklesham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bucklesham lawyer is on the HSBC conveyancing panel.
I'm purchasing my first flat in Bucklesham benefiting from help to buy. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not inform my solicitor about the extras as it may jeopardize my mortgage with Skipton Building Society. Should I keep quiet?.
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.
Fiveweeks into buying a property in Bucklesham. Conveyancing lawyer has told us the title is "Leasehold". Should this impact the salability of the property?
Bucklesham conveyancing does not in most situations involve leasehold houses. The crucial factor here is the remaining lease term and the ground rent. If it's 999 years with a peppercorn rent, it's virtually freehold, so it’s unlikely to affect the saleability too much.
At the other extreme, if it's, say, 50 years it will have a material effect on the saleability, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease provided to your conveyancing practitioner.