The vendors of the house we are hoping to buy have instructed a conveyancing firm in Filton who has insisted on a preliminary contract with a payment 10k. Are such agreements sensible?
There are a couple of main drawbacks with entering into any lock out agreement (occasionally known as a shut-out contract) is that it can distract from moving forward with the conveyancing transaction itself, so unless it requires minimal or no negotiation then it may transpire to be a cause of frustration and delay. It is not promoted amongst Filton conveyancing solicitors as a result. A supplemental negative is the extent of the remedies available - an aggrieved purchaser is not likely to secure injunctive relief to prevent the vendor disposing of the property to a third party, so the only remedy open via the agreement will be the reimbursement of wasted charges and, in limited circumstances, the additional payment of penalties.
I am purchasing a house and need a conveyancing solicitor in Filton who is on the Accord Mortgages Ltd approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Filton. We dont recommend any particular firm.
Are all Filton Conveyancing Quality Solicitors on the Nationwide conveyancing list of approved firms?
Some major banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
Last month we had a mortgage agreed in principle with UBS. Filton conveyancing lawyers have been instructed. What is the average time that one could expect to receive a mortgage offer from UBS?
There is no definitive answer here. Have UBS done the survey? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have a mortgage with TSB for my property in Filton. Conveyancing has been completed a year ago. If I am intending 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 TSB?
You must advise TSB before renting your property as this is likely to be a breach of TSB’s mortgage conditions. In many cases banks or building societies 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 TSB directly. It should not be necessary to do this via a TSB conveyancing panel solicitor.
I have todaydiscovered that Arc property Solicitors have been shut down. They carried out my conveyancing in Filton for a purchase of a freehold house 9 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Filton conveyancing specialists.
I am purchasing my first flat in Filton with the aid of help to buy. The sellers would not budge the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my conveyancer about this extras as it may impact my loan 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.
We are in the middle of buying a property in Filton. Conveyancing lawyer has phoned to say the title is "Leasehold". Should this adversely affect our HSBC valuation?
Filton conveyancing does not in most situations involve leasehold houses. The crucial consideration here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's essentially freehold, so it shouldn't impact the saleability significantly.
On the flip side, if it's, say, Sixty years it is bound to have a significant effect on the saleability, and most likely wouldn't be acceptable to the bank. The remaining lease term and ground rent will be set out in the lease which should be made available to your property lawyer.