I am buying a house without a mortgage in Borrowash. I have resided for the last twelve years in Borrowash. Conveyancing searches are exorbitant. As I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then almost all of the Borrowash conveyancing searches are optional. Your solicitor will try and sway you, no-doubt strongly, that you should have searches carried out, but he has a professional duty to do this. Do take into account; if you are going to dispose of the house at a future date, it could be of importance to your future purchaser what the searches reveal. On occasion properties with no practical issues can still show up unexpected search results. A good conveyancing solicitor in Borrowash will be able to give you some constructive advice in this regard.
I have been recommended a conveyancing solicitor in Borrowash. I I am struggling to find out whether they are accepted on the Bank of Scotland conveyancing panel. Could you help?
You should call the conveyancer and enquire whether they are on the lender panel. Alternatively you should get in touch with Bank of Scotland who may be able to help.
I am expecting a AIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Borrowash solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Borrowash solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I have paid off my mortgage with Virgin Money. I assume I don't need a Borrowash lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I recently had an offer agreed on an apartment in Borrowash. My financial adviser suggested a conveyancer. I paid an upfront payment of £150. A few days later, the lawyer called me sheepishly admitting that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am buying a new build house in Borrowash with the aid of help to buy. The builders would not reduce the price so I negotiated 6k of extras instead. The property agent told me not inform my conveyancer about this side-deal as it could jeopardize my loan with Birmingham Midshires. 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 am looking for a leasehold apartment up to £195,000 and identified one close by in Borrowash I like with open areas and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Borrowash for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
We're new to the buying process - had an offer accepted, yet the property agent told us that the owners will only go ahead if we instruct their chosen conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer accustomed to conveyancing in Borrowash
It is highly unlikely the owners are driving this. Should the owner desire ‘a quick sale', taking such a hostile approach to a serious purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and explain that (a)you are motivated buyers (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Borrowash conveyancing firm - not the ones that will provide their estate agent a referral fee or hit his conveyancing thresholds pre-set by senior management.