We went with a high street solicitor for my conveyancing in East Dean today. Going through the Ts and Cs it is apparent thatwe are on the hook for costs even where the conveyance does not complete. Should I go with them or use a web based firm who offer no move no charge conveyancing in East Dean?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the conveyancing charges will tend to be be more expensive to offset the cases that do not proceed. Dont forget that such schemes tend not to cover disbursements such as East Dean conveyancing search costs.
My partner and I are getting closer to an exchange on a flat in East Dean and my mum and dad have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has not arrived from me my lawyer needs to make a notification to my lender. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is legally required to clarify with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
I am considering applying for a Bank of Ireland mortgage for purchase of a new build (under development) in East Dean with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland ?
In theory, you could use a solicitor that is not on the Bank of Ireland conveyancing panel, but Bank of Ireland would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I'm purchasing a new build house in East Dean with a mortgage from National Westminster Bank. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not inform my solicitor about this deal as it may impact my mortgage with National Westminster Bank. 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.
Due to the guidance of my in-laws I had a survey completed on a house in East Dean before retaining conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some banks tend not issue a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in East Dean. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in East Dean to see if the conveyancing costs will increase in light of this.
Is planning consent required to convert a house into two flats in East Dean? This has been done to a property next door to my home in East Dean and was not aware of the conversion until the works were complete.
Planning Permission yes. Building Regulations yes.