At what point does exchange of contracts take place for domestic conveyancing in Swindon and am I required to attend the solicitors office?
If you are local to one of the conveyancing solicitors in Swindon you are welcome to come in to sign contracts. However, the firms we recommend supply a national conveyancing service and provide as equally detailed and professional a job for you when dealing with you by post or email. The executing of the purchase agreement is not when everything is set in stone. Signing on the dotted line is necessary for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Swindon)to be in the office at the appropriate time.
I am considering applying for a Nottingham mortgage for purchase of a new build (under development) in Swindon with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Various web forums that I have frequented warn that are a common cause of delay in Swindon conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Swindon.
I am buying my first flat in Swindon benefiting from help to buy. The sellers refused to move on the amount 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 put at risk my loan with the bank. 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 ground for flat up to £245,000 and identified one round the corner in Swindon I like with amenity areas and station in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Swindon suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Am I better off to choose a Swindon conveyancing solicitor in close proximity to the house I am buying? We have a good friend who can carry out the conveyancing however they are based over three hundred kilometers drive away.
The primary upside of using a local Swindon conveyancing firm is that you can drop in to execute paperwork, hand in your ID and pester them where appropriate. Having local Swindon know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and on the whole were happy that must surpass using an unfamiliar Swindon conveyancing solicitor just because they are Swindon based.