We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to use a Sittingbourne based conveyancing firm?
Do check but the the likelihood is that allocate you one of their panel conveyancers should you take up the "fee-free" deal. Call the bank to check if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Sittingbourne.
Should our conveyancer be raising enquiries concerning flooding as part of the conveyancing in Sittingbourne.
Flooding is a growing risk for solicitors dealing with homes in Sittingbourne. Some people will buy a house in Sittingbourne, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a various searches that may be initiated by the purchaser or on a buyer’s behalf which will figure out the risks in Sittingbourne. The standard completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to find out whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a buyer could commence a claim for damages as a result of such an inaccurate response. A purchaser’s conveyancers should also carry out an environmental search. This will indicate whether there is any known flood risk. If so, further inquiries will need to be made.
I am purchasing my first flat in Sittingbourne with a loan from Britannia. The sellers refused to move on the price so I negotiated £7000 of extras instead. The house builders rep advised me not to tell my conveyancer about this extras as it could put at risk my mortgage with the lender. Should I keep quiet?.
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 have been on the look out for a flat up to £245,000 and identified one near me in Sittingbourne I like with a park and station in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Sittingbourne suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
Should I use a Sittingbourne conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can execute the legal formalities but they are based approximately 350kilometers drive away.
The primary upside of using a high street Sittingbourne conveyancing practice is that you can attend the office to execute documents, present your ID and pester them where appropriate. Having local Sittingbourne know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that should trump using an unfamiliar Sittingbourne conveyancing solicitor solely due to them being Sittingbourne based.
The conveyancers handling our conveyancing in Sittingbourne has sent documents to review that state the land is unregistered with epitome documents. Surely all properties in Sittingbourne should be registered?
Although the vast majorities of properties in Sittingbourne are now registered with HMLR there are still a few that are unregistered. Any property in Sittingbourne that has been transferred since the late 1980’s will have been registered at the HM Land Registry under the compulsory ‘first registration’ scheme. However, if a Sittingbourne property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Sittingbourne conveyancing lawyers should be able to handle such matters but where uncertainty exists the conventional proposition nowadays is for the seller’s conveyancer to deal with the registration formalities first and thereafter deal with the dispose of the property to the purchaser - this undoubtedly cause a drawn-out transaction.