My best friend’s brother is a conveyancing practitioner. I am hopeful that I will be offered friends and family pricing for conveyancing, However if that does not come through, what kind of costs would I typically be looking at for conveyancing in Freshwater?
You should contrast pricing. Make use of our comparison tool on this site. Whilst quotes do vary but service levels do differ between solicitors as is the case with the vast majority of professional services.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Freshwater. Do I receive the keys to the property on the completion date from my conveyancer? If this is the case, I will find a local conveyancing solicitor in Freshwater?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the seller's conveyancers, and once they have received this, you will be invited to receive the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
We previously instructed conveyancing lawyers based in Freshwater on the Aldermore solicitor panel. They have just invoiced me a separate sum for the legal aspects of the Aldermore mortgage. Is this an additional conveyancing fee set by Aldermore?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your conveyancer can charge a fee for this. The charge is not set by Aldermore but by your Freshwater conveyancer. Numerous firms on the Aldermore panel will levy ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
Yorkshire BS have agreed my home loan in principle, my bid on a house in Freshwater has been accepted, now what?
The property agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Telephone Yorkshire BS or your financial adviser and finalise any outstanding paperwork. Yorkshire BS will instruct a valuer who will get in touch with the selling agent or owners to book an appointment. Once conducted (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Yorkshire BS will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Freshwater.
Should my solicitor be raising questions about flooding during the conveyancing in Freshwater.
Flooding is a growing risk for conveyancers carrying out conveyancing in Freshwater. Plenty of people will buy a house in Freshwater, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a numerous searches that can be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Freshwater. The standard property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to determine if the property has suffered from flooding. If the residence has been flooded in past which is not notified by the vendor, then a purchaser may bring a compensation claim as a result of such an inaccurate reply. A buyer’s solicitors should also commission an enviro report. This should indicate whether there is any known flood risk. If so, additional investigations should be made.
I'm buying my first flat in Freshwater with a loan from Lloyds TSB Bank. The developers refused to move on the price so I negotiated £7000 of extras instead. The house builders rep advised me not disclose to my conveyancer about the side-deal as it may impact my mortgage 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.
Over the last few months I have been searching for a ground for flat up to £305k and identified one close by in Freshwater I like with open areas and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Freshwater suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My solicitors in Freshwater have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the bank directly.