My wife and I are planning to purchase a house in Hurst and are in fact using a Hurst conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this afternoon contacted us to inform me that they have now hit a problem as our Hurst solicitor is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers to also act for 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 Accreditation 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Hurst lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Just bought a terraced house in Hurst , What is the estimated time for the Land Registry to register the transfer to my name? My Hurst conveyancing solicitor works at snail pace, so I want to be sure the land registry aspects are concluded.
As far as conveyancing in Hurst is concerned, registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timescales can vary subject to the party submitting the application, whether there are errors and if the Land registry have to notify any interested persons or bodies. Currently roughly three quarters of such applications are completed in less than three weeks but occasionally there can be protracted delays. Registration is effected once the new owner has moved in to the premises therefore post completion formalities is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
I am buying a new build house in Hurst with a mortgage from Norwich and Peterborough Building Society. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not inform my conveyancer about the extras as it would affect my mortgage with Norwich and Peterborough Building Society. 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've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Hurst is the location of the property. Can you shed any light on this issue?
Flying freeholds in Hurst are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hurst you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hurst may determine 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.
Is it simple use your search tool to find a conveyancing solicitor in Hurst on the panel for my bank?
1st pick a lender such as Halifax, Skipton Building Society or Platform Home Loans Ltd then specify your location for example Hurst. Conveyancing organisations in Hurst and beyond will then be identified.
Should I choose a Hurst conveyancing practitioner in close proximity to the house I am purchasing? I have an old university friend who can perform the conveyancing however they are based a couple of hundredkilometers drive away.
The benefit of a high street Hurst conveyancing practice is that you can visit the firm to execute paperwork, present your ID and pester them where appropriate. They will also have local insight which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and the majority were happy that should trump using an unfamiliar Hurst conveyancing lawyer solely due to them being local.