Me and my partner are soon to exchange on the purchase of a property in Clifton Village but as a consequence of damage from some water damage at the property I have was able negotiate reparation from the seller in the sum of £2k by way of a adjustment in the price. This was going to be dealt with as part of amending the contract but Barclays are not allowing this. Why were they notified?
Your property lawyer that is on the Barclays approved list is obliged to disclose to Barclays of any variations to the purchase price. If you prohibit your lawyer to notify the price change to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new property lawyer for your conveyancing in Clifton Village.
What does my ID and proof of funds have anything to do with my conveyancing in Clifton Village? Is this really warranted?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms of Engagement that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be checked. Should you are unwilling to supply ID verification documents, your lawyer will not be able to take you on as a client.
I am refinancing my apartment in Clifton Village, does my lawyer have to be on the Coventry BS Solicitor panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being a right pain. The Clifton Village solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Intending to buy a flat in Clifton Village. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS 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 Clifton Village conveyancer is on the Coventry BS conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Clifton Village is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
How simple is it to use your search facility to select a conveyancing lawyer in Clifton Village on the approved list for my mortgage?
1st select a mortgage company such as Yorkshire Building Society, Bank of Scotland or Bank of Ireland then specify your location for example Clifton Village. Conveyancing practices in Clifton Village and further afield should be shown.
We own a leasehold flat in Clifton Village. Conveyancing was finalised in 21012. I have heard that I mustn’t let the the remaining lease term to fall too low. Is this correct?
Clifton Village leasehold properties are for a set period - normally ninety nine years when they are first granted. However many appartments in Clifton Village were constructed or converted in the 70’s80’s and so such leases now have under 80 years remaining. That may sound like plenty of time however Banks, Building Societies and other mortgage companies tend to require leases to have a minimum of 75 years remaining to be mortgageable. Accordingly when you come to sell the property you will need a lease extension if you are approaching 75 years. To maximise the saleability of your property you should be thinking about whether to extend your lease long before you come to sell it. You should note that there are significant benefits to taking action before the lease hits eighty years as when the lease falls below eighty years the amount to be paid to extend starts to escalate.