Me and my partner are planning to acquire a 1 bedroom flat in Eye with a mortgage. We like our Eye solicitor, however the bank says she’s not on their "panel". We have to appoint one of the bank panel firms or retain our Eye conveyancer and pay for one of their panel firms to represent them. This feels very unfair; can we not insist that the lender use our Eye conveyancing practitioner ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 current landlord and must be out of my let out flat in Eye by the end of next month. Conveyancing on my purchase has just started. Can I complete in three weeks as I wish to avoid having to find temporary accommodation?
The normal practice is not to serve notice on a rental until you have exchanged. If you have not previously done so, speak to your lawyer and request that they chase the sellers lawyers, try to get a realistic time scale from them that everyone will aim towards
In reviewing moneysavingexpert.com for a recommended solicitor in Eye, many say that I should use a CQS assured solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing processes via the scheme protocol It covers numerous companies who perform conveyancing in Eye.
I am purchasing my first flat in Eye benefiting from help to buy. The sellers refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my conveyancer about the side-deal as it will jeopardize my mortgage with the lender. Is this normal?.
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 sale conveyancing in Eye. I happened to stumble across a web site which appears to be the perfect solution If there is a chance to get all this stuff done via web that would be preferable. Do I need to be concerned? 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?
I have just appointed agents to market my basement flat in Eye. Conveyancing is yet to be initiated, but I have just had a half-yearly service charge invoice – what should I do?
The sensible thing to do is discharge the service charge as normal given that all ground rent and service payments should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment 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.
Leasehold Conveyancing in Eye - Examples of Questions you should consider Prior to buying
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Is there a share of the freehold? How many years remain on the lease? Its a good idea to discover as much as possible concerning the company managing the block as they can either make your life much simpler or uncomfortable. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to every day issues like the upkeep of the communal areas. Enquire of other people what they think of their management. Finally, find out the dates that the service charges are due to the appropriate party and precisely how they are spending the funds.