My wife and I are hoping to acquire a property in Godshill and are in fact using a Godshill conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Skipton Building Society have this evening contacted us to inform me that there is now an issue as our Godshill lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Godshill lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would much rather instruct a Godshill based conveyancing firm?
You should check but the chances are that allocate you one of their panel lawyers if you take up the "fee-free" deal. Contact the mortgage company to explore if they make available a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Godshill.
Just bought a terraced house in Godshill , What is the estimated time for the Land Registry to deal with the formalities evidencing my title? My Godshill conveyancing solicitor works at snail pace, so I want to check the land registry aspects are concluded.
As far as conveyancing in Godshill registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can adjust depending on who lodges the application, whether it is in order and if the Land registry communicate with any third parties. As of today approximately 80% of such applications are fully dealt with in less than three weeks but occasionally there can be protracted delays. Registration is effected once the buyer has moved in to the property therefore post completion formalities is not always an essential issue yet where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
I'm purchasing a new build house in Godshill with the aid of help to buy. The developers refused to move on the amount so I negotiated £7000 of extras instead. The sale representative advised me not disclose to my solicitor about the deal as it would impact my loan with Clydesdale. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Godshill is where the house is located. Is there any advice you can impart?
Flying freeholds in Godshill are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Godshill you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Godshill may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
In surfing the internet for the term cheap conveyancing in Godshill it brings up many conveyancersin the vicinity. How do I determine which is the suitable solicitor for my move?
The preferential method of seeking a suitable conveyancer is through a trusted testimonial, so ask friends and those you trust who have purchased a property in Godshill or a respected estate agent or mortgage broker. Fees for conveyancing in Godshill differ, so it's a good idea to obtain at least three estimates from different law firms. Be sure to obtain confirmation that the fees are fixed.