We are acquiring our first house. The conveyancer has texted usto enquire if we wish to order additional conveyancing searches. Unfortunately we in the dark as to what's necessary for conveyancing in Chelsfield
The scope of Chelsfield conveyancing searches depends primarily on the premises, the location, the probability of any of these risks, your familiarity of the area 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 information. Should you be unclear, ask the solicitor to explain.
Is it correct that all Chelsfield CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Chelsfield conveyancing practitioners have been selected. How long does it take for Virgin Money to issue the offer to the property lawyer?
Some lenders take longer than others. Have Virgin Money done the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is not clear whether my mortgage offer requires a lease extension. I have called my Chelsfield building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Chelsfield conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer must comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
A friend recommended that if I am purchasing in Chelsfield I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Chelsfield conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Chelsfield around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Chelsfield Education with maps and statistics, Local Amenities and other useful data about Chelsfield.
I am buying my first flat in Chelsfield with a mortgage from Bank of Ireland. The builders would not move on the amount so I negotiated £7000 of additionals instead. The estate agent advised me not to tell my lawyer about the deal as it will jeopardize my mortgage 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.
I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Chelsfield I like with amenity areas and railway links in the vicinity, however it only has 52 years on the lease. I can't really find anything else in Chelsfield in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
Are there any apps to help locate a Chelsfield law firm on the Halifax conveyancing panel? I have wheels and am willing to travel upto 25miles to meet the solicitor.
You can use the facility on this page. Please pick a mortgage company and your location and you will see a number of Chelsfield conveyancing lawyers located nearest you. We have listed some Chelsfield conveyancing firms at the bottom of this page and you can telephone them to check whether they are on the Halifax member panel