My partner and I are acquiring our first home. Our conveyancer has e-mailedto see if we would like to purchase extra conveyancing searches. Frankly we are clueless as to what's necessary for conveyancing in Kegworth
The extent of Kegworth conveyancing searches should be triggered based primarily on the premises, the location, the probability of any of these risks, your knowledge of the locality and risks, your overall attitude to risk. What is important is that you properly comprehend what information each search could provide. You may then decide if you consider that you need that information. Should you be unsure, ask the property lawyer to explain.
The Kegworth conveyancing solicitors that I appointed last week on my purchase in Kegworth have suddenly shut down. I only went with them because I had to have a firm on the Co-operative conveyancing panel and my previous Kegworth lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
This question may be naive but I am unseasoned as FTB of a ground floor flat in Kegworth. Do I pick up the keys to the premises on the completion date from my lawyer? If so, I will find a High Street conveyancing solicitor in Kegworth?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you should be able to pick up the keys from the property Agents and move into your new home. This tends to happen early afternoon.
I am expecting a OIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Kegworth solicitors on the Kent Reliance conveyancing panel, or is it better to go independently?
You will need to appoint Kegworth solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Kegworth bank branch on a couple of occasions and was told it wasn't a problem and they will lend. My Kegworth conveyancing solicitor - who is on the bank conveyancing panel- called and was told they will not lend based on their specific requirements. Who do I believe?
Provided that the property lawyer is on the lender approved list, she or he must adhere to the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
It has been four months since my purchase conveyancing in Kegworth took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing a new build house in Kegworth with the aid of help to buy. The builders would not budge the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not reveal to my lawyer about this deal as it could impact my mortgage with Platform Home Loans Ltd. 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've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Kegworth is where the house is located. What do you suggest?
Flying freeholds in Kegworth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kegworth you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kegworth may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.