I selected a local lawyer for our conveyancing in Okehampton today. Upon checking the official terms of business I noteI am responsible for fees even where the conveyance does not complete. Would I be best advised to select a web based lawyer who offer no move no charge conveyancing in Okehampton?
Generally there is a concession along the lines that if "No Completion No Fee" is advertised then the fee levels will generally be higher to neutralise the cases that abort. Please beware that these arrangements tend not to protect you from expenses e.g. Okehampton conveyancing search charges.
AssumingI was to acquire a simple residential homein Okehampton mortgage fee and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Okehampton?
The only reduction in fees you would achieve is the costs for searches. A conveyancing practitioner still got to do everything else - money laundering, communicating with your vendors solicitor, stamp duty submission, register the title etc. You might save a bit for them not having to register a charge but it will not be a lot.
I just bought a property at auction in Okehampton. Conveyancing is needed. What are my next steps?
Now that you have to in every practical sense signed on the dotted line you now have to retain a conveyancing lawyer as a matter of priority as you are facing a fast approaching a drop dead date to complete the transaction. All auction property should have an associated auction set of papers. This will include most,if not all of the paperwork that your solicitor will need. In the case of leasehold premises the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You need to give this to the lawyer instructed by you ASAP. Do make sure that that you have the requisite funding in place to complete on the date specified in the contract.
Are all Okehampton Conveyancing Quality Solicitors on the Virgin Money conveyancing list of approved practices?
Some major banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We have a mortgage agreed in principle with UBS. Okehampton conveyancing solicitors have been instructed. How long does it take for UBS to send the offer to the solicitor?
There is no definitive answer here. Have UBS done the survey? Have you informed UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It has been four months since my purchase conveyancing in Okehampton completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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 Okehampton with a loan from National Westminster Bank. The sellers would not move on the price so I negotiated £7000 of additionals instead. The sale representative told me not disclose to my conveyancer about the deal as it will put at risk my loan with the bank. 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've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Okehampton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Okehampton are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Okehampton you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Okehampton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.