I am in a contract race with another prospective purchaser for a property in Cullompton. What can be done to hasten the buying process?
In the event that you are under time constraints for your conveyancing it is highly recommended that your solicitor is familiar with the area as they will make use of local connections and know-how. It is even conceivable that they could have conducted otherhomes in the same street. Therefore consider using a Cullompton conveyancing firm. In addition, double check that the lawyer is on the lender panel. It is estimated that 18% of Cullompton conveyancing deals are delayed or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s member panel. This can often result in the legal transfer of property being held up by as much as three weeks. It is claimed that this issue impacts in the region of 100,000 home moves every year. Many Cullompton conveyancing practices can not act for certain lenders so do check as early as possible.
I am thinking of remortgaging my property in Cullompton, does my lawyer have to be on the Clydesdale Conveyancing panel?
In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale 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 conveyancing matter.
I'm purchasing my first flat in Cullompton with a mortgage from Santander. The sellers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not to tell my lawyer about this side-deal as it may impact my mortgage with the lender. 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 leasehold apartment up to £305k and found one round the corner in Cullompton I like with a park and transport links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Cullompton in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I'm remortgaging my primary property to a BTL loan with Bank of Scotland and I will use the rest of the raised equity as a down payment on a second house. The location we are looking at is Cullompton. Will your solicitors be able to act for both sets of banks and tie in the transactions?
Make use of our search tool on this site to check that the conveyancers are on the appropriate lender panels. Having checked that they are the solicitor will be able to tie up the two deals but you should have a chat with you lawyer and specify your expectations and requirements.
I have been sourcing a conveyancing solicitor in Cullompton for my house move. Is there any facility to review a solicitor's complaints history with the profession’s regulator?
Anyone may search for published Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.