When will exchange of contracts occur in domestic conveyancing in Hook and do I need to attend the lawyers branch?
If you are near to our conveyancing solicitors in Hook you are invited in to sign documents. However, the lender approved solicitors we work with provide a nationwide conveyancing service and provide as equally diligent and professional a job for you when dealing with you digitally. The signing of the purchase agreement is not the important part. Signing on the dotted line simply enables the firm to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Hook)to be in the office at the appropriate time.
My bid for a property was accepted at auction in Hook. Conveyancing is needed. What are my next steps?
Given that you have now exchanged you should instruct a conveyancing practitioner as a matter of urgency as you now have a tight a fixed date to complete the deal. An auction property will ordinarily have a corresponding legal set of papers. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You must hand this to the solicitor instructed by you as soon as possible. Do make sure that that you have the requisite funding in place to complete the transaction on the set completion date.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Hook building society branch on numerous occasions and was told they are content with the situation and they would lend. My Hook conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
Your solicitor has to follow the CML Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
After weeks of negotiation I have agreed a price on an apartment in Hook. My financial adviser recommended their conveyancers. I paid an on account payment of £225. A couple of days later, the property lawyer contacted me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been told that property searches are the primary cause of hinderance in Hook conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Hook.
I'm purchasing my first flat in Hook with a loan from Skipton Building Society. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The sale representative told me not disclose to my lawyer about the extras as it may put at risk my loan with Skipton Building Society. Do I keep my lawyer in the dark?.
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 leasehold apartment up to £245,000 and found one round the corner in Hook I like with amenity areas and transport links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Hook for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass 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 lawyer regarding this.
I have just placed an offer on an apartment in Hook and the broker that we are dealing with suggested his solicitor. He quoted £800 including VAT and disbursements. Does this sound reasonable?
You should not rely on a single quote. One should obtain like-for-like quotes for your conveyancing in Hook. Then select one that you are comfortable with and just as important, is on the approved list of the lender that you are sourcing your mortgage from.