Recently contacted my conveyancing lawyer in Rocester who acted for me 18 months ago requesting a conveyancing estimate based on an identical type of house move (a leasehold residence and a freehold premises) of almost identical values with a mortgage from The Royal Bank of Scotland. It looks as though am now being quoted twice the amount. Am I right to be tempted to shop around for a cheaper online property lawyer?
The estimate does seem a little overpriced. If you shop around you might shave off some of the expense by say £125. That being said, if you were pleased with the assistance the firm provided you maylive to rue opting for an an untested solicitor. Remember to ensure that the conveyancer can also act for The Royal Bank of Scotland. You can use our search tool to get a quote a Rocester conveyancing firm on the The Royal Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Rocester.
My husband and I are buying a new build duplex in Rocester and my solicitor is advising me that she has to the mortgage company to reveal incentives from the builder. I am on a tight deadline to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
The Rocester conveyancing firm that just started acting on my house acquisition in Rocester have without warning shut down. They were on acting for me because I had to have a lawyer on the Bank of Ireland conveyancing panel and my preferred Rocester lawyer was not. I paid them 275 plus VAT on account. What are my options?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
It has been four months since my purchase conveyancing in Rocester took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 property 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 Rocester with a mortgage from Santander. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my solicitor about this side-deal as it could affect my loan with the lender. 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.
I'm remortgaging my primary house to a BTL mortgage with Coventry Building Society and intend to use the remaining equity towards a second house. The location we are talking about is Rocester. Will your conveyancers be able to act for the two lenders and tie in the conveyances?
Make use of our search tool on this page to be sure that the solicitors are on the relevant lender panels. Having checked that they are your lawyer should be able to simultaneously deal with the two transactions but you should have a chat with you lawyer and communicate your expectations and requirements.