In reading mumsnet.com for a cheap solicitor in Swaffham, many post that I should use a CQS kitemarked solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing procedures through the scheme protocol the standard includes many partnerships who carry out conveyancing in Swaffham.
What is the difference between a licensed conveyancer and conveyancing solicitor in Swaffham
There are two types of lawyers who can conduct conveyancing in Swaffham namely CLC regulated conveyancers or solicitors. Both professionals administer the legal services that you need to complete the sale or purchase of property. Both are obliged to execute Swaffham conveyancing to the same standards and guidelines so you can be safe in the knowledge that your conveyancing will be properly conducted and that the requirements and procedures should be appropriately followed.
I was told four weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Swaffham is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Coventry BS have agreed my home loan in principle, my offer on a house in Swaffham has been agreed to, now what?
Your property agent will want to know who your solicitors are (be sure the conveyancing practitioners are on the bank’s panel). Call up Coventry BS or your broker and complete any appropriate documentation. Coventry BS will instruct a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once carried out (assuming no problems) it takes approximately ten days to receive the mortgage offer. Coventry BS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Swaffham.
2 months have elapsed following my purchase conveyancing in Swaffham concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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 am purchasing my first flat in Swaffham with a mortgage from The Royal Bank of Scotland. The builders refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not inform my solicitor about this deal as it could impact my mortgage with the lender. Should I keep quiet?.
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.
I today plan to offer on a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Swaffham. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Swaffham ?
Most houses in Swaffham are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Swaffham in which case you should be looking for a Swaffham conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your lawyer will appraise you on the various issues.
I purchased a studio flat in Swaffham, conveyancing having been completed May 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Swaffham with an extended lease are worth £216,000. The ground rent is £50 invoiced every year. The lease finishes on 21st October 2094
With only 69 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.
I am expecting to exchange on the purchase a house in Swaffham but as a consequence of wreckage from the recent storms I have negotiated reparation from the owner of £2k in the form of a deduction in the price. This was going to be addressed as part of the conveyancing process yet the mortgage company will not agree to this. Should they have been informed?
Any conveyancer that is on a lender approved list is obliged to advise the mortgage company of any changes to the purchase price. If you did not allow your property lawyer to disclose the reduction to your lender then they would need to refrain from representing you and the bank.