Me and my partner are due to complete buying a property in Leicester but as a result of wreckage from the recent storms I have managed to agree compensation from the vendor in the sum of three thousand pounds by way of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however Santander will not permit this. Why were they informed?
Any property lawyer being on the Santander approved list is duty bound to inform Santander of any changes to the purchase price. If you were to refuse your property lawyer to disclose the reduction to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in Leicester.
I require fast conveyancing in Leicester as I have pressure to exchange contracts inside one month. A mortgage is not required. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at liberty not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Leicester the following are examples of issues that can crop up and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Me and my brother own a terraced Georgian house in Leicester. Conveyancing practitioner represented me and Aldermore. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Leicester and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing practitioner who carried out the work.
I'm purchasing a new build house in Leicester benefiting from help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not disclose to my conveyancer about the side-deal as it would put at risk my loan with Virgin Money. Should I keep quiet?.
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.
How do I identify a Leicester law firm on the Lloyds TSB Bank conveyancing panel? I have wheels and am willing to travel upto 25miles to meet the lawyer.
You can use the tool on this website. Please choose the bank and your location and you will see a number of Leicester conveyancing lawyers located nearest you. We have detailed some Leicester conveyancing firms at the bottom of this page and you can contact them to see whether they are on the Lloyds TSB Bank member panel
Our solicitor in Leicester is asking me for proof of ID documents saying that this is part of his obligations as a solicitor on the mortgage company Solicitor panel. Can this be correct?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the bank. This is not specific to conveyancing in Leicester