Is it realistic for conveyancing in Upton to be finalised in under 3 weeks?
In a situation where the seller is applying a tight deadline to sign contracts we would recommend that your lawyer is familiar with the location as they will benefit local connections and know-how. It is even conceivable that they would have conducted otherhomes in the same neighbourhood. You would be best advised to use a Upton conveyancing firm. Second, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Upton conveyancing transactions are held up or jeopardised after discovering a buyer’s solicitor was not on their banks member panel. In many cases this discovery resulted in the buying process being frustrated by an average of three weeks. It is claimed that this issue affects approximately 100,000 home moves annually. Almost all Upton conveyancing practices can not act for certain mortgage companies so do check at the outset.
I purchased a freehold house in Upton but nevertheless charged rent, why is this and what is this?
It is rare for properties in Upton and has limited impact for conveyancing in Upton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
This question may be naive but I am unexperienced as FTB of a garden flat in Upton. Do I receive the keys to the premises on the completion date from my solicitor? If this is the case, I will find a High Street conveyancing solicitor in Upton?
On the day of completion you will not be required to attend the conveyancers office in Upton. Conveyancing lawyers for you will transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be invited to pick up the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
We expect to receive a OIP from Skipton this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Skipton recommend any Upton solicitors on the Skipton conveyancing panel, or is it better to go independently?
You will need to appoint Upton solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
Barclays have agreed my home loan in principle, my offer on a house in Upton has been agreed to, what happens next?
The estate agent will need to be advised as to your solicitor's details (ensure that the solicitors are on the bank’s panel). Contact Barclays or the broker and complete any appropriate forms. Barclays will sellect a valuer who will get in contact with the estate agent or seller to schedule a time for the valuation to occur. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. Barclays will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Upton.
I am purchasing a new build house in Upton benefiting from help to buy. The sellers refused to move on the price so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my conveyancer about this deal as it will put at risk my loan with Barclays . 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 opted to have a survey carried out on a property in Upton prior to retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks may not grant a loan on such a property.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Upton. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner and I are buying a first floor flat in Upton. At the time of instructing our property lawyer, they told us that they were on all major UK mortgage company panels. Our mortgage broker called yesterday to advise that they are not on the Kent Reliance approved list. Should that be true, what should we do? Do we just choose a different conveyancer that is on their approved list or do we pay for separate representation, with Kent Reliance appointing their own preferred conveyancing practitioner.
If you are acquiring a property requiring a mortgage it is normal for the purchaser’s lawyers to also represent the mortgage company. In order to act for a bank or building society a solicitor has to be on that lender's conveyancing panel. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancing practitioner has to fulfill. Some building societies now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact Kent Reliance to find out 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 Kent Reliance's conveyancing panel and you may continue to use your own Upton solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another conveyancing practitioner into the equation.