At what point does exchange of contracts happen for residential conveyancing in Borth Y Gest and do I need to attend the conveyancers branch?
Where you are round the corner to one of the conveyancing solicitors in Borth Y Gest you are invited in to sign contracts. However, the lender approved solicitors we work with supply a nationwide conveyancing service and give as equally detailed and professional a job for you when dealing with you digitally. The executing of the purchase agreement is not the important part. Signing on the dotted line is just a prerequisite for the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Borth Y Gest)to be in the office available at the end of the phone to exchange contracts.
It has been 4 months following my purchase conveyancing in Borth Y Gest completed. 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 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 am purchasing my first flat in Borth Y Gest with a loan from Barclays . The builders would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not inform my solicitor about the deal as it may impact my mortgage with the lender. Should I keep quiet?.
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 opted to have a survey done on a house in Borth Y Gest before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies will refuse to give a mortgage on this type of home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you contact us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Borth Y Gest. Conveyancing will be smoother if you use a solicitor in Borth Y Gest especially if they are accustomed to such properties in Borth Y Gest.
I have been pointed in your direction by a couple of local selling agents in Borth Y Gest to find a solicitor on your site. Is there a financial incentive for Estate Agents to recommend your lawyers over and above a competitor’s?
We don’t make any commission for sending work in our direction. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are first time buyers - had an offer accepted, yet the agent advised that the owners will only issue a contract if we use their preferred conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Borth Y Gest
We suspect that the seller is unaware of this requirement. Should the owner desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you intend to proceed fast (e)however you intend to appoint your own,trusted Borth Y Gest conveyancing solicitors - not the ones that will provide the negotiator at the agency a referral fee or achieve conveyancing thresholds demanded by head office.