My husband and I are buying a newly constructed flat in Littleborough and my conveyancer is advising me that she is duty bound to the mortgage company to disclose incentives from the seller. I am under pressure to exchange and I have no desire to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am helping my sister sell her flat in Littleborough. Will the solicitor commission an EPC or it is for me to coordinate?
Following the abolition of HIPs, energy performance certificates became a compulsory element of selling a property. An EPC must be to hand in advance of the property being marketed. This is not something that law firms normally arrange. If you are using a Littleborough conveyancing solicitor they might be able to arrange EPC’s due to their contacts with long established local assessors
I'm the only beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Littleborough. Conveyancing formalities meant that the Land Registry date was in December. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. many banks would take a practical view as this obligation is principally there to identify subsales or the quick reselling of properties.
We have a mortgage agreed in principle with Kent Reliance. Littleborough conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
Some lenders take longer than others. Have Kent Reliance completed the valuation? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I used Arc property Solicitors a few years ago for my conveyancing in Littleborough. Now, I need the documents but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Littleborough of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build house in Littleborough with a mortgage from TSB. The sellers would not reduce the price so I negotiated £7000 of extras instead. The estate agent told me not to tell my solicitor about this extras as it could put at risk my mortgage with TSB. Should I keep quiet?.
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.
Due to the input of my in-laws I had a survey completed on a house in Littleborough ahead of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some lenders may not give a mortgage on a flying freehold house.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Littleborough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Littleborough to see if the conveyancing costs will increase in light of this.
Is it best to go with a Littleborough conveyancing practitioner who is local to the property I am hoping to buy? I have an old university friend who can deal with the conveyancing but his firm is located a couple of hundredkilometers drive away.
The benefit of a high street Littleborough conveyancing firm is that you can visit the firm to execute paperwork, hand in your ID and apply pressure on them if necessary. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were content that must surpass using an unfamiliar Littleborough conveyancing lawyer solely due to them being based in the area.