I have just been advised by my financial adviser that my Preston Park property lawyer is not on the lender Solicitor panel. What can I do to be sure whether this is correct?
Your first step should be to call your Preston Park conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
I am buying a property for cash in Preston Park. I have lived for the previous twelve years in Preston Park. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then all but one or two of the Preston Park conveyancing searches are at your discretion. Your lawyer will try and sway you, perhaps strongly, that you should have searches carried out, but she has a professional duty to do this. One thing to take into account; if you are intend to sell the house one day, it may be of interest to your future buyer what the searches determine. On occasion houses with apparent issues can still show up unexpected search results. A competent conveyancing solicitor in Preston Park will be able to give you some practical advice here.
I am selling my apartment. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Coventry BS are being difficult. The Preston Park solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Kent Reliance have agreed my home loan in principle, my offer on a house in Preston Park has been agreed to, what are the next steps?
The estate agent will need to know who your solicitors are (be sure the conveyancing practitioners are on the bank’s approved list). Telephone Kent Reliance or the financial adviser and complete any outstanding paperwork. Kent Reliance will sellect a valuer who will get in contact with the estate agent or owners to book a time for the valuation to occur. Once conducted (assuming no problems) it takes on average a week to receive the mortgage offer. Kent Reliance will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Preston Park.
My offer on a semi in Preston Park has been accepted, but there is a chain. The sellers have offered on on an apartment, however it’s not been accepted yet, and have viewings of other apartments booked. I have selected a bricks and mortar conveyancing solicitor in Preston Park. What should be my next step? When should I get the mortgage application with Santander started?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then survey, Preston Park conveyancing search costs, etc). First, you must check that your conveyancing practitioner is on the Santander conveyancing panel. Regarding the subsequent steps this very much dictated by the specifics of your transaction, motivation for the property and on the state of the market. In a rising market the majority of purchasers will apply for the mortgage with Santander and arrange for the valuation and only if it comes back ok would they ask their conveyancer to press on with the conveyancing in Preston Park.
Are there restrictive covenants that are commonly identified during conveyancing in Preston Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Preston Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing my first flat in Preston Park with the aid of help to buy. The developers refused to reduce the price so I negotiated 6k of extras instead. The estate agent told me not to tell my lawyer about the deal as it would put at risk my loan with HSBC Bank. Is this normal?.
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 much experience do your Preston Park conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Preston Park conveyancing lawyers help thousands of people move home every year and helped lots of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Preston Park conveyancers have worked on recent similar cases.