We are hoping to acquire a 3 bedroom flat in Eye with a mortgage. We have a Eye lawyer, however the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel firms or keep our Eye conveyancer and pay for one of their panel ones to act for them. This seems very unfair; can we not demand that the bank use our Eye conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Eye conveyancing solicitor to apply to be on the conveyancing panel.
I have given 2 months notice to my existing landlord and have to vacate my rented flat in Eye by the end of next month. Conveyancing for my house purchase is underway. Is it possible to complete in three weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to provide notice for your lease unless you have exchanged. Assuming that you have not already done so, notify to your solicitor and ask them to they cajole the other side, try to get a realistic time scale from them that all parties will work towards
When scouring mumsnet.com for a recommended solicitor in Eye, most say that I should instruct a CQS assured lawyer. Can you explain what CQS is?
Eye Conveyancing Quality Scheme solicitors have obtained accreditation under the Law Society's Scheme (CQS) CQS was established to establish evidence of quality standards in the home buying process. CQS enables buyers and sellers to identify solicitor firms that provide a quality residential conveyancing. Eye is one of locations in England and Wales in which CQS are located. The conveyancing scheme obliges practices to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Association of British Insurers.
I am buying my first flat in Eye with a mortgage from HSBC Bank. The developers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not inform my solicitor about this extras as it would jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
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 need to instruct a conveyancing solicitor for leasehold conveyancing in Eye. I've chance upon a web site which appears to be the perfect answer If it is possible to get all the legals done via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Estate agents have just been given the go-ahead to market my ground floor apartment in Eye. Conveyancing solicitors are to be appointed soon, however I have recently received a half-yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as you normally would because all ground rent and maintenance charges should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Eye Leasehold Conveyancing - Examples of Queries Prior to buying
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What is the name of the managing agents? It is important to be aware if fixing the lift or some other major work is due shortly that will be shared by the tenants and will dramatically increase the the maintenance fees or require a specific payment. Does this lease have more than 90 years remaining?