The vendors of the property we are hoping to buy hired a conveyancing practitioner in High Wycombe who has suggested a preliminary agreement with a payment 6,000. Are such contracts the norm for High Wycombe conveyancing transactions?
Exclusivity agreements are contracts between a property vendor and prospective buyer granting the buyer the sole right to the sale of the property within a prescribed time frame. Essentially, a lock out agreement is a contract specifying that you should receive a contract at a later date being the contract for the actual sale. It is generally used for buyer confidence though in many situations, the owner may enjoy an upside from such agreements as well. There are many positives and negatives to using them but you need to check with your lawyer but beware that it may result in incurring more in conveyancing fees. In light of these reasons these agreements are unusual in relation to conveyancing in High Wycombe.
My wife and I have recently appointed a conveyancing solicitor in High Wycombe. I need to find out whether they are on the Aldermore approved list of lawyers. Can you or the lender confirm if they are on the panel?
The first thing to do is call your lawyer and ask them if they can act for the bank. Alternatively you can call Aldermore who may be able to confirm.
Is it the case that all High Wycombe CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing panel?
It is true that some banks and building societies now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Is there a list of Kent Reliance panel solicitors in High Wycombe on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association websites. Very few lenders make their panel listings visible on the web. Where you are seeking to appoint a High Wycombe conveyancing practitioner on the Kent Reliance please make the most of our facility.
Planning on purchasing a flat in High Wycombe. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the High Wycombe property lawyer is on the Kent Reliance conveyancing panel.
What can a local search inform me concerning the property I am purchasing in High Wycombe?
High Wycombe conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search plays an important role in many a High Wycombe conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I'm buying a new build house in High Wycombe benefiting from help to buy. The developers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not reveal to my lawyer about this extras as it may impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 house in High Wycombe ahead of instructing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not grant a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in High Wycombe. Conveyancing will be smoother if you use a solicitor in High Wycombe especially if they are accustomed to such properties in High Wycombe.