My husband and I are looking to buy a property in Symonds Yat and are in fact using a Symonds Yat conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Nottingham Building Society have this morning contacted us to advise us that there is now an issue as our Symonds Yat lawyer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Symonds Yat solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I used Arc property Solicitors several years ago for my conveyancing in Symonds Yat. I now require my file however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Symonds Yat of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build house in Symonds Yat with a loan from Norwich and Peterborough Building Society. The developers would not reduce the amount so I negotiated £7000 of extras instead. The property agent suggested that I not reveal to my conveyancer about the side-deal as it may put at risk my mortgage with Norwich and Peterborough Building Society. 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.
I am looking for a flat up to £305k and found one near me in Symonds Yat I like with amenity areas and railway links in the vicinity, the downside is that it only has 61 years on the lease. There is not much else in Symonds Yat in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
Hoping to buy a property located in Symonds Yat and I am already nervous. I couldn't find anything specific about Symonds Yat. Conveyancing will be needed in due course but do you know about the Symonds Yat area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Symonds Yat. In the meantime here are some basic statistics that we found
I am buying a flat and need a conveyancing solicitor in Symonds Yat who is on the bank approved panel. Can you recommend a Symonds Yat or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the lender who do conveyancing in Symonds Yat. We dont recommend any particular conveyancing practice.