I hired a high street firm for our conveyancing in Portland today. After carefully reading the fine print it is apparent thatI am on the hook for costs even where the conveyance does not complete. Would I be best advised to appoint an on-line solicitor practice promoting no-sale-no-fee conveyancing in Portland?
Generally there is a compromise along the lines that if "No Sale No Fee" is offered then the conveyancing charges will generally be more expensive to neutralise those cases that do not proceed. Also remember that these arrangements generally do not protect you from expenditure by way of example Portland conveyancing search charges.
My husband and I swapping mortgage lender for our flat in Portland with Skipton. We have a son 19 who lives at home. Our solicitor requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Skipton conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this compromise his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Skipton. This is solely used to protect Skipton if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Skipton had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Portland. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 22/11/2024, the requirements read as follows :
I am purchasing my first flat in Portland benefiting from help to buy. The builders would not reduce the amount so I negotiated 6k of extras instead. The house builders rep told me not disclose to my conveyancer about the side-deal as it would 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.
I need to find a conveyancing solicitor for purchase conveyancing in Portland. I have chance upon a site which looks to be the perfect answer If it is possible to get all this stuff completed via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do online conveyancing companies cover everything a local Portland solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Portland?
Where you instruct an online conveyancer they should cover all the things your Portland conveyancer would cover.