My wife and I are about to exchange on the purchase of a property in Groby but as a result of damage from the recent storms I have was able negotiate recompense from the vendor in the sum of £2k taking the form of a adjustment in the price. I had intended this to be addressed as part of a side agreement however Bank of Ireland are not allowing this. Should they have been involved?
The lawyer that is on a Bank of Ireland conveyancing panel is obliged to disclose to Bank of Ireland of any changes to the sale price. If you were to refuse your conveyancer to report the reduction to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new conveyancing practitioner for your conveyancing in Groby.
When does exchange of contracts take place for sale conveyancing in Groby and do I need to attend the lawyers branch?
Where you are round the corner to one of the conveyancing solicitors in Groby you are invited in to sign documents. That being said, the law practices we recommend supply countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you electronically. The signing of the contract is not when everything is set in stone. Signing on the dotted line is just a prerequisite for the conveyancer to exchange contracts at the suitable time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Groby)to be in the office at the appropriate time.
Is there a list of Santander panel conveyancers in Groby on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association sites. Very few lending institutions make their panel listings open the public online. Where you are looking for a Groby solicitor on the Santander please make the most of our facility.
I have today made my last payment due on my mortgage with Skipton. I assume I don't need a Groby lawyer on the Skipton panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Skipton 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 Skipton mortgage from the register. Skipton, 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 Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
After weeks of negotiation I have agreed a price on an apartment in Groby. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £150. Not long after, the conveyancing practitioner contacted me to say that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Just acquired a detached house in Groby , how long will it take for the Land Registry to record the transfer to my name? My Groby conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are addressed.
As far as conveyancing in Groby is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timeframes can adjust according to the party submitting the application, whether it is in order and whether the Land registry have to notify any third parties. Currently roughly three quarters of submission are fully dealt with in less than three weeks but occasionally there can be protracted hold-ups. Historically registration is effected once the buyer is living at the premises therefore registration formalities is not typically top priority 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 an expedited registration.
I'm purchasing my first flat in Groby benefiting from help to buy. The sellers would not move on the amount so I negotiated £7000 of additionals instead. The property agent advised me not disclose to my lawyer about this extras as it will impact my loan 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've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Groby is where the house is located. Is there any guidance you can give?
Flying freeholds in Groby are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Groby you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Groby may ascertain 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 property.