When will exchange of contracts occur in domestic conveyancing in Holywell and am I required to attend the conveyancers office?
Where you are in close proximity to one of the conveyancing solicitors in Holywell you are invited in to sign documents. However, the law practices we recommend offer a national conveyancing service and provide just as comprehensive and professional a job for you when dealing with you by post or email. The signing of the contract is not the point of no return. A signed contract is necessary for the firm to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Holywell)to be in the office available at the end of the phone to exchange contracts.
Having invested time scouring online forums for an affordable solicitor in Holywell, most post that I must look for a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home ownership transfers, trusted by some of the UK's major mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). CQS is not a scheme offered by the Society for Licensed Conveyancers. Holywell is one of the numerous areas of the UK where there are CQS solicitors.
Are all Holywell Conveyancing Quality Solicitors on the HSBC conveyancing panel?
Some major banks and building societies now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
We are getting the release of further funds on our home loan from HSBC as we wish to carry out improvements to our home in Holywell. Are we obliged to choose a nearby Holywell solicitor on the HSBC conveyancing panel to handle the paperwork?
HSBC don't usually appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC conveyancing panel.
I have paid off my mortgage with Barclays. I assume I don't need a Holywell solicitor on the Barclays panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I am purchasing a new build house in Holywell benefiting from help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not inform my lawyer about this side-deal as it will impact 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 am looking for a leasehold apartment up to £235,500 and found one close by in Holywell I like with a park and transport links in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Holywell in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage that many years will be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
My husband and I are new to the buying process - had an offer accepted, but the estate agent told us that the seller will only go ahead if we instruct their chosen solicitors as they need a ‘quick sale’. Our preferred option is to instruct a high street conveyancer accustomed to conveyancing in Holywell
We suspect that the owner is not behind this request. Should the vendor require ‘a quick sale', alienating a serious purchaser is counter productive. Speak to the owners direct and make the point that (a)you are genuine purchasers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Holywell conveyancing solicitors - as opposed tothose that will earn the negotiator at the agency a introducer fee or achieve conveyancing thresholds demanded by HQ.