I opted for a local solicitor for my conveyancing in Higham Ferrers last week. After carefully reading the official terms of business I notewe are liable for fees even if the dealfalls through. Would I be best advised to appoint an internet solicitor practice who offer no move no charge conveyancing in Higham Ferrers?
Generally there is a compromise along the lines that if "No Sale No Fee" is available then the fee levels will generally be uplifted to counteract the transactions that do not proceed. You should be mindful that these offerings tend not to cover outlay such as Higham Ferrers conveyancing search charges.
Our son-in-law is about to exchange on a house that has just been built in Higham Ferrers with a home loan from RBS. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We had chosen conveyancing lawyers locally in Higham Ferrers on the Coventry BS solicitor panel. They are now charging me a separate amount for handling the Coventry BS mortgage. Is this a supplemental conveyancing fee set by Coventry BS?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor can charge a fee for this. This fee is not dictated by Coventry BS but by your Higham Ferrers conveyancer. Plenty of firms on the Coventry BS panel will quote ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
How can we tell if a Higham Ferrers conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Higham Ferrers obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor conducting your transaction.
I have a mortgage with Nationwide for my property in Higham Ferrers. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Nationwide must be informed of your intention before letting out your property as this is likely to be a breach of Nationwide’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 Nationwide directly. You need not do this via a Nationwide conveyancing panel lawyer.
Are there restrictive covenants that are commonly identified during conveyancing in Higham Ferrers?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Higham Ferrers. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in Higham Ferrers with the aid of help to buy. The builders refused to reduce the amount so I negotiated 6k of extras instead. The house builders rep advised me not reveal to my solicitor about this deal as it could jeopardize my loan with Yorkshire Building Society. 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.
Our estate agent has recommended their conveyancer for the conveyancing in Higham Ferrers - Surely it’s better to just instruct them?
You need to establish if the estate agent is recommending a property lawyer or introducing to a property lawyer. There are plenty of Higham Ferrers estate agents who recommend two or three Higham Ferrers conveyancing firms purely based on those lawyers offering a great service.