We are soon to complete buying a property in Loddon but as a result of wreckage from the recent storms I have was able negotiate recompense from the current proprietors in the sum of six thousand pounds taking the form of a deduction in the price. This was going to be dealt with as part of a side agreement but UBS will not agree to this. Should they have been informed?
The conveyancing practitioner being on a UBS conveyancing panel is required to disclose to UBS of any variations to the purchase price. If you were to refuse your lawyer to disclose the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new solicitor for your conveyancing in Loddon.
We are getting a further advance on our home loan from Skipton as we wish to carry out improvements to our property in Loddon. Are we obliged to choose a bricks and mortar Loddon solicitor on the Skipton conveyancing panel to handle the legals?
Skipton do not ordinarily require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Loddon building society branch on a couple of occasions and was told it wasn't a problem and they would lend. My Loddon conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the conveyancing practitioner is on the mortgage company approved list, they must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
Planning on purchasing a flat in Loddon. 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 Bank of Ireland 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 Loddon conveyancer is on the Bank of Ireland conveyancing panel.
Should our solicitor be asking questions about flooding during the conveyancing in Loddon.
Flooding is a growing risk for conveyancers dealing with homes in Loddon. Plenty of people will purchase a property in Loddon, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, however there are a number of checks that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Loddon. The conventional set of property information forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to find out if the premises has suffered from flooding. If the premises has been flooded in past which is not revealed by the vendor, then a buyer could commence a claim for damages stemming from an inaccurate reply. The buyer’s lawyers may also order an environmental report. This will reveal whether there is any known flood risk. If so, additional inquiries should be initiated.
I used Wolstenholmes a few years ago for my conveyancing in Loddon. Now, I need my files but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Loddon of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing my first flat in Loddon with the aid of help to buy. The sellers refused to budge the price so I negotiated 6k of additionals instead. The property agent suggested that I not inform my conveyancer about this side-deal as it will put at risk my mortgage 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.
Due to the input of my in-laws I had a survey completed on a house in Loddon prior to retaining solicitors. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks may not give a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Loddon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Loddon to see if the conveyancing will be more expensive.