Completed the sale of my flat in Bucknall last January but our buyer keeps calling daily to moan that their conveyancer is waiting to hear from mylawyer. What should have happened following completion?
After completion of your sale your conveyancer is duty bound to send the transfer documentation and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your solicitor must also send confirmation that the mortgage has been paid off to the purchasers lawyers. There is unlikely to be post completion procedures unique to conveyancing in Bucknall.
Do the Building Society Association intend to launch a online directory to list practices on the Earl Shilton BS conveyancing panel for example in Bucknall?
We have not been informed any plans on the part of the BSA to promote such a search facility.
I am the only recipient of my late mum's estate and I have everything in my name now, including the my former home in Bucknall. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the property. I do know about the CML 6 month 'rule', which means that my proprietorship could be treated the same way as though I had purchased the property in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view mortgage companies take of it, depend on the lender as this obligation chiefly exists to identify subsales or the flipping of properties.
My fiancee and I are spending time looking at houses in Bucknall and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a home loan with Yorkshire BS.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are getting a mortgage with Yorkshire BS, ask your prospective lawyers if they are on the Yorkshire BS conveyancing panel otherwise they can't do the mortgage legal work.
After shopping around on the internet I have found a Bucknall property lawyer having checked that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Bucknall postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Bucknall.
I'm buying my first flat in Bucknall benefiting from help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not reveal to my lawyer about the extras as it may impact my mortgage with the lender. 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.
Due to the guidance of my in-laws I had a survey completed on a property in Bucknall before appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some banks tend not grant a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. If you call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bucknall. Conveyancing may be slightly more expensive based on your lender's requirements.
We're novice buyers - agreed a price, yet the property agent advised that the seller will only issue a contract if we use the agent's recommended solicitors as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Bucknall
It is improbable the vendors are driving this. If they desire ‘a quick sale', turning down a motivated buyer is counter productive. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Bucknall conveyancing solicitors - as opposed tothose that will give their estate agent a introducer fee or hit his conveyancing targets pre-set by senior management.