We are about to exchange on the purchase of a property in Edenthorpe but as a result of wreckage from the recent storms I have was able negotiate reparation from the vendor in the sum of £2k taking the form of a reduction in the price. This was going to be addressed as part of amending the contract but Bank of Ireland will not agree to this. Should they have been informed?
Any property lawyer being on a Bank of Ireland conveyancing panel is required to inform Bank of Ireland of any variations to the purchase price. If you were to refuse your conveyancing practitioner to notify the reduction to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new conveyancing practitioner for your conveyancing in Edenthorpe.
My bid for a property was accepted at auction in Edenthorpe. Conveyancing is necessary. What is next?
Given that you have now exchanged you should choose a conveyancing solicitor quickly as you are facing a tight a drop dead date to complete the property. Every auction property should have an associated auction set of papers. This should include the copy title deeds, local authority and drainage searches. In the case of leasehold premises the auction pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You need to pass this on to your appointed conveyancing solicitor ASAP. Do make sure that your finances are in place to complete the transaction on the set completion date.
Can I be sure that the Edenthorpe conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Edenthorpe seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer conducting your conveyancing.
Having read lots of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Edenthorpe solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Edenthorpe surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Are there restrictive covenants that are commonly picked up during conveyancing in Edenthorpe?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Edenthorpe. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing my first flat in Edenthorpe with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my conveyancer about the side-deal as it could affect 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.
Due to the guidance of my in-laws I had a survey completed on a house in Edenthorpe in advance of appointing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some lenders may not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Edenthorpe. Conveyancing will be smoother if you use a solicitor in Edenthorpe especially if they are accustomed to such properties in Edenthorpe.
My father-in-law has recommend that I use his conveyancers in Edenthorpe. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to get guidance from friends or family who have actually used the solicitor you're considering.