I'm in the process of porting my existing standard mortgage to a BTL Santander mortgage. I have been informed by my broker that I must appoint a conveyancer for this. I spoke to my former Eynsham conveyancing firm who dealt with the legals when I originally bought the property. The costs illustration e-mailed to me of £450 plus VAT is surprising as I am not require purchase conveyancing - it’s simply a straightforward remortgage.
The quote is slightly on the expensive side. If you are happy to expend time scrutinising charges you could get the conveyancing a bit cheaper by say £100 plus VAT. That being said, if you were content with the conveyancing the firm provided you couldlive to regret choosing an an unknown conveyancer. Don't forget to ensure the firm can act for Santander. Do use our search tool to choose a Eynsham conveyancing firm on the Santander approved list of lawyers, which can often include conveyancing solicitors in Eynsham.
We are approaching an exchange on a property in Eynsham and my mum and dad have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor is obliged to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
What does my ID and proof of funds have anything to do with my conveyancing in Eynsham? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Eynsham conveyancing firm will require proof of identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing your correct address.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to ascertain not just the identity of conveyancing clients but also the source of the money that they receive in respect of any matter. An unwillingness to disclose this will result in your lawyer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the relevant authorities should they consider that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
I am assisting my sister sell her flat in Eynsham. Does the conveyancing solicitor commission the energy assessment or it is for me to coordinate?
After the abolition of HIPs, energy assessments was kept a compulsory part of moving property. An energy performance certificate should be to hand in advance of the property being marketed. It is not a task that conveyancers normally organise. Where you are instructing a Eynsham conveyancing solicitor they may be willing to arrange EPC’s given their relationships with long established Eynsham energy assessors
When it comes to mortgage companies such as Barclays, do Eynsham solicitors incur a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I had a mortgage agreed in principle with HSBC. Eynsham conveyancing solicitors were instructed. How long does it take for HSBC to forward the offer to the conveyancer?
Some lenders take longer than others. Have HSBC conducted the survey? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am buying my first flat in Eynsham with a mortgage from Barclays . The developers refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not inform my conveyancer about this extras as it will impact my mortgage with the bank. 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.
We have been informed by numerous family members that it may take six to eight weeks for Eynsham conveyancing to complete.This was 3 ago. The paperwork was only sent to my conveyancing practitioner last week so does the clock start running now?
No official countdown exists for conveyancing in Eynsham, or any location. You just have to make sure your finances are in order and in due course the rest will come together.