Am I correct in assuming that the fact that my solicitor in Grange Park is not on my bank's solicitor panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Grange Park conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
The Grange Park conveyancing firm handling our Grange Park conveyancing has identified a difference between the surveyor’s assumptions in the home valuation survey and what is in the conveyancing documents. My lawyer says that he needs to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Why do I have to pay up front when it comes to conveyancing in Grange Park?
Where you are retaining lawyers for conveyancing in Grange Park your solicitor will request that you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. When the deposit is as part of the total price then this will be required immediately ahead of exchange of contracts. Any further balance that is needed should be sent to your lawyer shortly before completion.
I'm purchasing my first flat in Grange Park with a mortgage from Birmingham Midshires. The developers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my lawyer about this extras as it could affect 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 am looking for a ground for flat up to £235,500 and found one round the corner in Grange Park I like with open areas and transport links nearby, the downside is that it only has 61 years unexpired on the lease. There is not much else in Grange Park suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
In scouring the web for the term cheap conveyancing in Grange Park it reveals numerous solicitorslocally. With so much choice what is the best way to find the suitable solicitor for my move?
The best method of seeking a suitable conveyancer is through a trusted referral, so ask colleagues and those you trust who have acquired a property in Grange Park or the local estate agent or mortgage broker. Charges for conveyancing in Grange Park vary, so it's sensible to obtain at least four quotes from varying types of conveyancers. Make sure that you clarify that the fees are fixed.