We're in Long Itchington, First timers buying with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Long Itchington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Long Itchington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build house in Long Itchington with a mortgage from Santander. The sellers refused to budge the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my solicitor about this extras as it would affect my loan with the bank. 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 have been on the look out for a ground for flat up to £195,000 and identified one near me in Long Itchington I like with open areas and transport links in the vicinity, however it's only got 52 years on the lease. There is not much else in Long Itchington suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
Given that I will soon spend £400,000 on a terraced house in Long Itchington I wish to talk to a conveyancer about myhouse move in advance of giving the go ahead to the firm. Is this something that you can arrange?
This is something that we recommend - we would be pleased to talk to you we do not take any clients on without you liaising with the solicitor due to be doing your conveyancing in Long Itchington.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter number. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Long Itchington should be the figure that you end up paying.
Much to my surprise my property lawyer in Long Itchington has requested from me ID documents asserting that this is part of his legal duty as a solicitor on the lender Conveyancing panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the bank. This is not unique to conveyancing in Long Itchington