I am buying a leasehold flat in Bodmin. My Solicitor is not listed on the bank solicitor panel. Am I still permitted to retain my Bodmin conveyancing solicitor notwithstanding that they are not on the mortgage company approved list?
One will need to instruct a conveyancer to complete the formalities when you take out a loan to buy your property. They will conduct all the appropriate legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. One can select a Bodmin conveyancer of your choosing. However, where the conveyancing practitioner appointed is not a member of the lender conveyancing panel additional charges will arise as separate legal representation will be need by the lender. Conveyancing panel applications may be submitted, so provided your lawyer has not historically sought membership they should take the opportunity to apply.
Can you vouch for a Accord Mortgages Ltd allowed Bodmin conveyancing lawyer finish our house move within 28 days? Would it be better to use a local Bodmin practice or a web based firm?
We can recommend some very good Bodmin conveyancing firms. Another option is to visit the main road in Bodmin. Approach two or three firms and request to speak with a conveyancing solicitor for a costs illustration. Explain your requirements together with the reasons and get a commitment on your deadline. Select the lawyer that you are most comfortable with.
Will conveyancers ask for an advanced payment for conveyancing in Bodmin?
If you are buying a property in Bodmin your lawyer will ask you to provide them with funds to cover the search fees. Generally this is called for to cover the fees of the Local Authority Search. When the down payment is as part of the total price then this should be asked for immediately in advance of contracts are exchanged. Any further balance that is due will be payable shortly before completion.
A colleague recommended that where I am buying in Bodmin I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Bodmin conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Bodmin around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bodmin Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Bodmin Education with maps and statistics, Local Amenities and other useful data regarding Bodmin.
four months have elapsed since my purchase conveyancing in Bodmin concluded. I have checked the Land Registry website which shows that I paid £175,000 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 asset 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 Bodmin with a loan from Barnsley Building Society. The developers refused to move on the price so I negotiated £7000 of additionals instead. The property agent advised me not to tell my solicitor about the extras as it would affect my loan with Barnsley Building Society. 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.