My wife and I are due to complete on the purchase of a property in Knutsford but as a consequence of damage from the recent storms I have was able negotiate recompense from the seller of three thousand pounds by way of a adjustment in the price. I had intended this to be dealt with as part of amending the contract yet Virgin Money will not permit this. Should they have been notified?
Your property lawyer being on the Virgin Money approved list is duty bound to disclose to Virgin Money of any amendments to the sale price. If you were to refuse your conveyancing practitioner to report the reduction to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new property lawyer for your conveyancing in Knutsford.
Should lawyers request money on account for my conveyancing in Knutsford?
If you are buying a property in Knutsford your solicitor will request that you place them with funds to cover the search fees. Normally this is called for to cover the fees of the Local Authority Search. If any deposit is payable against the sale price then this should be required shortly ahead of exchange of contracts. The closing balance that is needed will be payable shortly before completion.
When it comes to mortgage companies such as TSB, do Knutsford solicitors incur a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of Clydesdale panel conveyancers in Knutsford on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of mortgage companies make their panel listings available online. Where you are in need of a Knutsford conveyancing practitioner on the Clydesdale please make the most of our facility.
We have agreed to purchase a house in Knutsford. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Yorkshire BS be concerned?
As your lender is Yorkshire BS your lawyer must comply with the formal requirements contained in Section 2 of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and solicitors are required to report to Yorkshire BS where a lease fails to comply with these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Knutsford.
What will a local search reveal regarding the house my wife and I buying in Knutsford?
Knutsford conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search is essential in every Knutsford conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
I am buying a new build house in Knutsford with the aid of help to buy. The builders refused to move on the price so I negotiated £7000 of additionals instead. The property agent told me not to tell my lawyer about the side-deal as it would impact my loan 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've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Knutsford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Knutsford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Knutsford you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Knutsford 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 property.