My IFA has requested my Colchester law firm’s panel member for the Nat West conveyancing panel. What is the best way to discover this. I have tried my local Colchester office but they don't know it.
You are best placed to get this information from your Colchester conveyancing practitioner . Most Colchester law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each bank.
My friend suggested that if I am buying in Colchester I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Colchester conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Colchester around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Colchester Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Colchester Education with plans and statistics, Local Amenities and other useful data regarding Colchester.
I am purchasing a new build house in Colchester with a loan from Britannia. The sellers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my lawyer about the extras as it could jeopardize my mortgage with the lender. 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.
Due to the guidance of my in-laws I had a survey completed on a house in Colchester prior to instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies may refuse to give a loan on this type of premises.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Colchester. Conveyancing will be smoother if you use a solicitor in Colchester especially if they are accustomed to such properties in Colchester.
I have been recommended by three or four local estate agents in Colchester to get a quote from a property lawyer on your site. What’s the financial advantage for Estate Agents to market your site over and above another?
We don’t give any referral fee for sending work in our direction. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I’m about to sell my 2 bed apartment in Colchester.Conveyancing lawyers have not yet been instructed however I have just received a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would as all ground rent and service charges should be allottedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process