We are about to exchange on the purchase of a property in Carshalton Beeches but as a result of damage from a small fire at the property I have managed to agree recompense from the seller of £2k in the form of a deduction in the price. This was going to be dealt with as part of amending the contract but Nottingham will not agree to this. Should they have been involved?
The property lawyer being on the Nottingham conveyancing panel is duty bound to disclose to Nottingham of any variations to the purchase price. If you prohibit your solicitor to report the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new property lawyer for your conveyancing in Carshalton Beeches.
In what way does my ID and proof of funds have anything to do with my conveyancing in Carshalton Beeches? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identification documents of the person or body they are dealing with before they can accept their conveyancing instruction. The Client Care letter that you need to sign should reaffirm this. Your lender will also require certain documents to be checked. Where you are unwilling to provide ID verification documents, your lawyer will not be able to take you on as a client.
Can I be sure that the Carshalton Beeches conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Carshalton Beeches obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor handling your transaction.
We expect to receive a OIP from Virgin Money this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Carshalton Beeches solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Carshalton Beeches solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I have a mortgage with Nationwide for my property in Carshalton Beeches. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval before renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. You need not do this via a Nationwide conveyancing panel lawyer.
five months have elapsed following my purchase conveyancing in Carshalton Beeches completed. I have checked the Land Registry site 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 premises 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.
How does conveyancing in Carshalton Beeches differ for new build properties?
Most buyers of new build residence in Carshalton Beeches come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Carshalton Beeches tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Carshalton Beeches or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Carshalton Beeches I like with amenity areas and transport links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Carshalton Beeches suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.