Should lawyers request money up-front when it comes to conveyancing in Hartburn?
Where you are retaining lawyers for conveyancing in Hartburn your solicitor will ask you to provide them with monies to cover the the cost of the conveyancing searches. Generally this is needed to cover the fees of the conveyancing searches. When the down payment is as part of the total price then this will be required shortly prior to exchange of contracts. Any further balance that is due should be sent to your lawyer shortly before completion.
After scouring moneysavingexpert.com for an affordable solicitor in Hartburn, most advise that I should look for a CQS assured solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's leading banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Council of Licensed Conveyancing. Hartburn is one of the numerous areas in England and Wales where there are Accredited solicitors.
This question may be naive but I am unexperienced as FTB of a ground floor flat in Hartburn. Do I pick up the keys to the property on completion from my solicitor? If so, I will use a High Street conveyancing solicitor in Hartburn?
On the day of completion you will not be required to attend the conveyancers office in Hartburn. Your solicitors will transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you should be invited to collect the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I happen to be the single beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Hartburn. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this obligation primarily exists to capture the purchase and immediately sell or the quick reselling of properties.
I recently had an offer accepted on a house in Hartburn. My financial adviser suggested a solicitor. I paid an upfront payment of £150. A few days later, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the RBS 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 RBS 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.
I am buying a new build flat in Hartburn. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hartburn
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a flat up to £235,500 and identified one near me in Hartburn I like with a park and railway links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Hartburn in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Do I need to be concerned by third parties that I am dealing with are encouraging me to use a factory type conveyancing firm as opposed to a High Street Hartburn conveyancing company?
As is the case with many service providers, often suggestions from family and friends can be extremely useful or valuable. But there are numerous players in a conveyancing deal; estate agents, mortgage brokers and lenders may suggest conveyancers to instruct. On occasion these lawyers might be known to one of the organisations as being good in their field, but sometimes there exists a financial incentive behind the endorsement. You are at liberty to choose your own conveyancer. Don't forget that most banks specify a panel list of solicitors you have to use for the lender aspect of your transaction.