My fiance and I are hoping to acquire a house in Herne Bay and are in fact using a Herne Bay conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Norwich and Peterborough Building Society have this evening contacted us to advise us that there is now an issue as our Herne Bay solicitor is not on their conveyancing panel. Please explain?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. 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 Quality Scheme. Your property lawyer 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 lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Herne Bay solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We are buying a property and need a conveyancing solicitor in Herne Bay who is on the UBS conveyancing panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for UBS . We don't recommend any particular firms conducting conveyancing in Herne Bay.
five months have gone by following my purchase conveyancing in Herne Bay completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Herne Bay benefiting from help to buy. The sellers would not reduce the amount so I negotiated £7000 of additionals instead. The property agent told me not disclose to my conveyancer about the side-deal as it could impact 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.
Due to the input of my in-laws I had a survey completed on a property in Herne Bay before instructing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some lenders may refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Herne Bay. Conveyancing will be smoother if you use a solicitor in Herne Bay especially if they are familiar with such properties in Herne Bay.
We're new to the buying process - had an offer accepted, but the estate agent informed us that the vendor will only go ahead if we use their recommended conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Herne Bay
We suspect that the seller is not behind this request. If they desire ‘a quick sale', turning down a serious purchaser is going to damage their objectives. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you do not need to sell (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted Herne Bay conveyancing lawyers - not the ones that will give the negotiator at the agency a introducer fee or achieve conveyancing targets pre-set by corporate headquarters.