We are soon to complete buying a property in Grenoside but as a result of damage from the recent storms I have managed to agree compensation from the vendor of £2k in the form of a deduction in the price. I had intended this to be addressed as part of amending the contract yet UBS are not allowing this. Should they have been informed?
Any conveyancer that is on the UBS approved list is required to disclose to UBS of any changes to the sale price. If you prohibit your solicitor to report the reduction to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new lawyer for your conveyancing in Grenoside.
Are all Grenoside Conveyancing Quality Solicitors on the Nationwide conveyancing list of approved practices?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
When it comes to lenders such as Barclays, do Grenoside conveyancers face a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
We are getting the release of further monies on our mortgage from UBS as we intend to conduct a loft conversion to our house in Grenoside. Do we need to select a local Grenoside solicitor on the UBS conveyancing panel to deal with the legals?
UBS would not normally instruct firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
I'm buying my first flat in Grenoside with a loan from Chelsea Building Society. The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not inform my conveyancer about this extras as it will jeopardize my mortgage with the lender. Should I keep quiet?.
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.
I decided to have a survey carried out on a property in Grenoside in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend not grant a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Grenoside. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Grenoside. I have discover a web site which appears to be the perfect answer If it is possible to get all this stuff done via web that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Grenoside. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Grenoside ?
The majority of houses in Grenoside are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Grenoside in which case you should be looking for a Grenoside conveyancing practitioner and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.