Why do I have to pay up front for conveyancing in Stafford?
If you are buying a property in Stafford your lawyer will request that you to provide them with monies to cover the the cost of the conveyancing searches. Ordinarily this is requested to cover the fees of the Local Authority Search. If any deposit is payable against the total price then this should be needed shortly prior to exchange of contracts. The closing balance that is due will be payable a few days ahead of the completion date.
What happens if my solicitor is removed from the Santander Solicitor panel ahead of completing my conveyancing in Stafford?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am purchasing a new build house in Stafford with a loan from The Mortgage Works. The sellers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not to tell my conveyancer about this side-deal as it may put at risk 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Stafford is the location of the property. What do you suggest?
Flying freeholds in Stafford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stafford you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stafford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What does commercial conveyancing in Stafford cover?
Stafford conveyancing for business premises covers a broad array of services, provided by regulated solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I need to swap lawyers as my Stafford lawyer is not on the lender's approved list of conveyancing solicitors. Is it practical to instruct different lawyers?
In the event that you have not formally appointed a conveyancer to start work and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Stafford that you're thinking of instructing.