I had intended to instruct a conveyancing solicitor in High Wycombe for our house move. Our financial adviser informed us that our mortgage lenders Chelsea Building Society won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies normally restrict either the category or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the profile of firm, a few lenders have limited the number of firms they allow to represent them. Be aware that Chelsea Building Society have no responsibility for the quality of advice provided by any member of Chelsea Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of conveyancing panels a few years ago even though there remains differing opinions concerning the level of solicitor involvement in some of that fraud. Data from the Land Registry reveal that hundreds of law firms, including some in or near High Wycombe only conduct a couple conveyances a year.
Will our conveyancer be raising enquiries about flooding as part of the conveyancing in High Wycombe.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in High Wycombe. There are those who buy a property in High Wycombe, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, but there are a various searches that can be carried out by the purchaser or by their lawyers which should figure out the risks in High Wycombe. The conventional set of property information forms sent to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the seller to find out whether the property has ever been flooded. In the event that the property has been flooded in past and is not notified by the vendor, then a buyer may bring a claim for damages as a result of such an incorrect reply. A purchaser’s solicitors should also carry out an enviro report. This should higlight whether there is any known flood risk. If so, additional investigations should be conducted.
It has been 4 months following my purchase conveyancing in High Wycombe took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 property 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'm buying my first flat in High Wycombe with a mortgage from Alliance & Leicester . The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not inform my solicitor about this deal as it would jeopardize my loan with the bank. Is this normal?.
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.
What does commercial conveyancing in High Wycombe cover?
Commercial conveyancing in High Wycombe covers a wide array of services, supplied by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
My partner has recommend that I use his lawyers for conveyancing in High Wycombe. Should I use them?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to get feedback from friends or relatives who have actually previously instructed the conveyancer you're are thinking of instructing.