I am looking for value for money conveyancer. Do I opt for an internet conveyancer rather than a local Cranfield conveyancing solicitor?
Generally conveyancing practitioners in your location will have strong alliances with your local authority, which could help with the Cranfield conveyancing searches that your conveyancer will require. It can only be a plus if they enjoy good connections with the Land Registry in your area Cranfield, other property lawyers in the location and Cranfield Estate Agents.
Our solicitor has discovered a a legal deficiency with the lease for the property we are buying in Cranfield. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender conditions have to be complied with.
Why do I have to pay up front when it comes to conveyancing in Cranfield?
Where you are retaining lawyers for conveyancing in Cranfield your lawyer will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the purchase price then this will be asked for shortly before contracts are exchanged. The closing balance that is due should be sent to your lawyer shortly before completion.
Will my solicitor be asking questions concerning flooding during the conveyancing in Cranfield.
Flooding is a growing risk for lawyers dealing with homes in Cranfield. There are those who buy a property in Cranfield, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, but there are a various checks that can be undertaken by the buyer or by their conveyancers which should give them a better understanding of the risks in Cranfield. The standard information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to determine whether the premises has historically flooded. In the event that the premises has been flooded in past and is not notified by the seller, then a purchaser may issue a compensation claim as a result of such an incorrect reply. A buyer’s conveyancers should also commission an environmental search. This will higlight if there is any known flood risk. If so, more detailed investigations will need to be made.
I'm purchasing a new build house in Cranfield benefiting from help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not reveal to my solicitor about this deal as it will put at risk my mortgage with Bank of Scotland. 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.
Why can I not complete our conveyancing in Cranfield on Good Friday?
This is due to the fact that on completion the sale price needs to be transferred electronically between the banks of the buyer and owner’s conveyancer and at present this can only take place on a business day. It is not possible to complete on a weekend either.