My wife and I are about to exchange buying a house in Kingsley but as a consequence of wreckage from the recent storms I have was able negotiate compensation from the seller in the sum of three thousand pounds in the form of a deduction in the price. I had intended this to be addressed as part of a side agreement however Kent Reliance will not agree to this. Should they have been approached?
The conveyancing practitioner being on the Kent Reliance approved list is obliged to advise Kent Reliance of any changes to the sale price. If you were to refuse your lawyer to notify the price change to Kent Reliance then they would have to discontinue acting for you. In addition, Kent Reliance and you would have to appoint a new lawyer for your conveyancing in Kingsley.
My Solicitor in Kingsley has never been on on the Skipton Building Society Solicitor Panel. Can I still continue with my prefered solicitor notwithstanding that they are not on the Skipton Building Society panel?
Your options are as follows:
- Carry on with your preferred Kingsley solicitors but Skipton Building Society will need to retain a conveyancer on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees and result in delays.
- Find an alternative solicitor to to deal with the purchase, obviously checking they are Convince your solicitor to use their best endeavours to join the Skipton Building Society conveyancing panel
What can a local search reveal regarding the property we're buying in Kingsley?
Kingsley conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for instance Searchflow The local search is essential in every Kingsley conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search will reveal information on, amongst other things, details on planning applications relevant 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 subject headings.
It has been four months since my purchase conveyancing in Kingsley concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 asset 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 a new build house in Kingsley with a loan from Virgin Money. The sellers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not to tell my conveyancer about the extras as it could adversely affect my mortgage with Virgin Money. Do I keep my lawyer in the dark?.
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.
Due to the encouragement of my in-laws I had a survey completed on a house in Kingsley ahead of instructing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies will not issue a loan on this type of property.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kingsley. Conveyancing may be slightly more expensive based on your lender's requirements.