As a FTB what is the most important advice you can impart about purchase conveyancing in Worcester Park?
You may not hear this from too many lawyers but conveyancing in Worcester Park or throughout England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there is lots of opportunity for confrontation between you and others involved in the transaction. For example, the seller, selling agent and sometimes the lender. Selecting a solicitor for your conveyancing in Worcester Park an important selection as your conveyancer is your adviser, and is the ONLY person in the transaction whose interest is to act in your best interests and to keep you safe.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone must be at fault for the process taking so long. We recommend that you your first instinct should be to trust your solicitor ahead of the other players in the home moving process.
I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Worcester Park with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
There is nothing to stop you using your solicitor, but Clydesdale will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I just bought a property at auction in Worcester Park. Conveyancing is necessary. What are my next steps?
Now that you have legally committed yourself to purchase you should hire the services of a conveyancing solicitor quickly as you will have a pending a drop dead date to complete the conveyancing. An auction property will have an associated legal pack. This should include most,if not all of the documents that your lawyer will need. In the case of leasehold property the legal papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are organised to complete the transaction on the set completion date.
I'm the sole recipient of my late grandmother’s estate and I have everything in my name alone, including the my former home in Worcester Park. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership will be treated the same way as though I had purchased the property in December. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. How sensible a view lenders take of it, depend on the lender as this provision principally exists to identify the purchase and immediately sell or the quick reselling of property.
Are all Worcester Park Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
It is true that some lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
2 months have elapsed since my purchase conveyancing in Worcester Park completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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'm buying my first flat in Worcester Park benefiting from help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not to tell my conveyancer about this extras as it will adversely affect my loan with the bank. Is this normal?.
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 decided to have a survey carried out on a property in Worcester Park prior to retaining lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some banks will not give a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Worcester Park. Conveyancing will be smoother if you use a solicitor in Worcester Park especially if they are accustomed to such properties in Worcester Park.