How up to date is your database of Downe solicitors on the Aldermore conveyancing panel? Do Aldermore send you an updated list?
Downe conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
I have been told that property searches are a common cause of stalling in Downe house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of slowing down conveyancing in Downe.
four months have gone by following my purchase conveyancing in Downe took place. I have checked the Land Registry website which shows that I paid £200,000 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 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.
I'm purchasing a new build house in Downe benefiting from help to buy. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not disclose to my conveyancer about this side-deal as it would put at risk my mortgage with the lender. 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 opted to have a survey done on a house in Downe ahead of appointing solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend not give a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you e-mail 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 Downe. Conveyancing will be smoother if you use a solicitor in Downe especially if they regularly deal with such properties in Downe.
Am I right to be suspicious that third parties that I am dealing with are suggesting a national conveyancing firm as opposed to a local Downe conveyancing firm?
As with many professional services, often recommendations from connections can be worth their weight in gold. But there are numerous parties with a keen interest in a conveyancing matter; estate agents, mortgage brokers and lenders may recommend solicitors to instruct. On occasion the conveyancers might be known to one of the organisations as being good in their field, but sometimes there might be a financial incentive behind the recommendation. You have the discretion to choose your own lawyer. Don't forget that many mortgage providers specify a panel list of law firms you have to use for the lender related work in your home move.