My wife and I are due to exchange on the purchase of a house in Fordingbridge but as a consequence of damage from the recent storms I have managed to agree reparation from the current proprietors of £2k in the form of a adjustment in the price. This was going to be dealt with as part of a side agreement however Barclays will not permit this. Why were they notified?
Any lawyer that is on a Barclays conveyancing panel is required to advise Barclays of any amendments to the sale price. If you were to refuse your property lawyer to disclose the price change to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new solicitor for your conveyancing in Fordingbridge.
We're in Fordingbridge, First timers buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Various web forums that I have frequented warn that are the primary reason for hinderance in Fordingbridge conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Fordingbridge.
I have recentlyfound out that Stirling Law have closed. They conducted my conveyancing in Fordingbridge for a purchase of a leasehold flat 12 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The easiest way to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Fordingbridge conveyancing specialists.
I'm purchasing a new build house in Fordingbridge benefiting from help to buy. The builders refused to budge the price so I negotiated £7000 of additionals instead. The sale representative advised me not inform my solicitor about the deal as it will jeopardize my loan with Alliance & Leicester . 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.
Why do I have to send my solicitor with various items of identification ahead of starting my conveyancing in Fordingbridge?
Fordingbridge solicitors are duty bound by the Law Society, Solicitors Regulation Authority, HM Land Registry and current Money Laundering legislation to certify that the have verified the identity of their clients. It is also sometimes a requirement of your bank where you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, NI number and date of birth.