Why do I have to pay up front when it comes to conveyancing in Foots Cray?
If you are buying a property in Foots Cray your lawyer will ask you put them with funds to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any down payment is payable against the total price then this will be asked for immediately in advance of exchange of contracts. The final balance that is needed should be transferred a few days ahead of the day of completion.
A colleague informed me that in buying a property in Foots Cray there may be a number of restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are anumerous of properties in Foots Cray which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Foots Cray should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Barclays. I assume I don't need a Foots Cray property lawyer on the Barclays panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I currently have a mortgage with Leeds Building Society for my property in Foots Cray. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
You must advise Leeds Building Society in advance of letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel firm.
A relative recommended that if I am buying in Foots Cray I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Foots Cray conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Foots Cray around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Foots Cray.
I'm buying a new build house in Foots Cray with a loan from Virgin Money. The sellers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not inform my lawyer about this extras as it will adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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 am downsizing from my house. My former conveyancers closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Foots Cray if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Foots Cray. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Builders have put forward a conveyancing practitioner and I've received a quote from them. It's almost £300 less expensive than my local Foots Cray lawyer. What's the catch?
Housebuilders normally have panels of lawyers who are quick and who know the seller’s contract and property lawyer. As many developers offer an inducement to use their approved property lawyer for this reason, any increased cost can be avoided and a builder will not put forward a conveyancing factory and run the risk of having the conveyancing delayed when they demand an exchange within a tight deadline. A counter-argument for not agreeing to use the recommended conveyancer is that they may prove hesitant to 'push' your interests at the risk of alienating the developer. Where you have concerns that this may be the case you should remain with your high street Foots Cray conveyancer.