Having sold my house in Maxton last October but my buyer keeps telephoning daily to say her solicitor needs to hear from mine. What should my lawyer have done following completion?
Following your disposal your lawyer should forward the transfer documentation and all additional paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor should also confirm that the home loan has been redeemed to the buyers solicitors. There is unlikely to be post completion steps unique to conveyancing in Maxton.
It has been 3 months since my purchase conveyancing in Maxton completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 purchasing my first flat in Maxton with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my solicitor about this side-deal as it may adversely affect my mortgage with Godiva Mortgages Ltd. Should I keep quiet?.
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.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Maxton I like with amenity areas and transport links nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Maxton for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the remaining unexpired lease term will likely be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
My brother has recommend that I instruct his conveyancers in Maxton. Do I take his guidance?
No doubt the best way to select a conveyancing solicitor is to have feedback from friends or family who have actually experience in using the firm you're are thinking of instructing.
My nephew is just in the process of moving home, the home loan was agreed last week in principle. After the seller agreed the offer on the flat we called the mortgage institution to issue the formal offer. I was disappointed to discover that mortgage lenders do not accept all solicitor, they have to be on a list, is this right?
Banks ordinarily restrict either the type or the number of conveyancing firms on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Maxton lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.