We're in Stoke Sub Hamdon, First timers purchasing with a mortgage (lender is Santander , and our solicitor is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My bid for a property was accepted at auction in Stoke Sub Hamdon. Conveyancing is necessary. What happens now?
Having legally committed yourself to purchase you must instruct a conveyancing practitioner as a matter of urgency as you now have a fast approaching a drop dead date to complete the transaction. An auction property will have an associated auction set of papers. This will likely include most,if not all of the documents that your lawyer requires. In the case of leasehold property the conveyancing pack should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in order to complete on the on the contractual date .
We have a mortgage agreed in principle with TSB. Stoke Sub Hamdon conveyancing solicitors were appointed. How long does it take for TSB to issue the offer to the conveyancer?
Some lenders take longer than others. Have TSB conducted the valuation? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My partner and I are spending time viewing flats in Stoke Sub Hamdon and I am now considering a potential offer. Is it sensible to have a property lawyer on ‘stand by’? I intend to finance via a mortgage with Bank of Ireland.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are obtaining a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
My wife and I have a 4 bedroom Georgian property in Stoke Sub Hamdon. Conveyancing lawyer represented me and Birmingham Midshires. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the matching property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stoke Sub Hamdon and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing practitioner who conducted the purchase.
I'm purchasing a new build house in Stoke Sub Hamdon benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of additionals instead. The sale representative suggested that I not reveal to my lawyer about the extras as it would impact my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Stoke Sub Hamdon and how can your lawyers assist?
The particular law that you refer to provides a safeguard to commercial lessees, granting the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Stoke Sub Hamdon is one of the numerous locations in which the firms we work with are located
Much to my surprise my conveyancer in Stoke Sub Hamdon is asking me for identification documents stating that this forms part of his retainer as a conveyancer on the lender Solicitor panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the mortgage company. This is not unique to conveyancing in Stoke Sub Hamdon