I am about to exchange buying a property in Alnmouth but as a result of damage from the recent storms I have was able negotiate compensation from the vendor in the sum of £3k taking the form of a deduction in the price. I had intended this to be addressed as part of the conveyancing process but Leeds Building Society are not allowing this. Why were they approached?
Your solicitor being on the Leeds Building Society conveyancing panel is required to disclose to Leeds Building Society of any variations to the purchase price. If you were to refuse your conveyancing practitioner to notify the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancer for your conveyancing in Alnmouth.
It is is a decade since I bought my house in Alnmouth. Conveyancing solicitors have recently been appointed on the sale but I am unable to find my deeds. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be with your lender or they could stored with the conveyancers who handled your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Alnmouth involves registered property but in the unlikely event that your home is unregistered it adds to the complexity but is not insurmountable.
Our mortgage company has recommended solicitors on their panel based in Alnmouth but I would rather instruct a conveyancing lawyer in Alnmouth or nearer to where I live. Can you help?
The minority of Alnmouth conveyancing practices are on all lender’s conveyancing panel. Use our find an approved solicitor tool to locate a Alnmouth conveyancing conveyancer on the on the lender panel.
Do commercial conveyancing searches reveal planned roadworks that may affect a commercial property in Alnmouth?
Many commercial conveyancing solicitors in Alnmouth will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Alnmouth. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Alnmouth.
For each commercial conveyancing transaction in Alnmouth it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can result in delays to Alnmouth commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Alnmouth.
four months have gone by following my purchase conveyancing in Alnmouth completed. I have checked the Land Registry website which shows that I paid £150,000 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 property 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 am purchasing my first flat in Alnmouth benefiting from help to buy. The builders would not reduce the amount so I negotiated 6k of additionals instead. The sale representative told me not reveal to my conveyancer about the side-deal as it could impact my loan with the lender. 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.