A colleague advised me that in purchasing a property in West Beckton there may be various restrictions as to what one can do in terms of external changes to a property. Is this right?
There are a number of properties in West Beckton which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in West Beckton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Are all West Beckton Conveyancing Quality Solicitors on the Nationwide conveyancing list of approved practices?
It is true that some banks and building societies now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
We have a mortgage agreed in principle with Nottingham. West Beckton conveyancing solicitors are chosen. What is the average time that one could expect to receive a mortgage offer from Nottingham?
Some lenders take longer than others. Have Nottingham completed the survey? Have you informed Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have been told that property searches are the primary cause of obstruction in West Beckton conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any holding up conveyancing in West Beckton.
I am purchasing my first flat in West Beckton with a loan from Barnsley Building Society. The builders refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not disclose to my lawyer about the extras as it could put at risk my mortgage with Barnsley Building Society. Do I keep my lawyer in the dark?.
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.
How easy is it to switch firm as I need to retain one who is on the Nottingham Building Society conveyancing panel. I had appointed a high street conveyancing solicitor in West Beckton round the corner but the firm is not approved by Nottingham Building Society
It would be our pleasure to assist you select a conveyancing solicitor in West Beckton on the Nottingham Building Society panel. Please note that the property lawyers that we work with do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in West Beckton. In utilising the find a conveyancing solicitor tool on this site, you can compare charges for conveyancing solicitors in West Beckton and beyond.
We're novice buyers - agreed a price, but the estate agent told us that the vendor will only move forward if we appoint their chosen solicitors as they need an ‘expedited deal’. Our preferred option is to instruct a high street solicitor used to conveyancing in West Beckton
We suspect that the seller is not behind this ultimatum. If they want ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are motivated buyers (b)you are ready to go, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)however you are going to instruct your preferred West Beckton conveyancing lawyers - not the ones that will earn the estate agent a kickback or hit his conveyancing thresholds set by senior management.
We own a leasehold flat in West Beckton. Conveyancing was finalised in five years ago. I have been told that I should not let the lease length fall too short. Why is that a problem?
West Beckton domestic long term leases are for a prescribed period - often just under one hundred years when they commenced. However many appartments in West Beckton were constructed or converted 25 or more years ago and so these leases now have less than eighty years remaining. That may seem like a long time but Banks, Building Societies and other mortgage lenders tend to require leases to have at least 75 years left to adequate security. This means that when you come to sell the property you will need a lease extension if you are nearing 75 years. To optimize the saleability of your property you should be thinking about whether to extend your lease long before you come to sell it. Furthermore strong financial reasons to taking action before the lease hits eighty years as when the lease is less than 80 years the amount you have to pay to extend starts to escalate.