I am soon to complete buying a property in March but as a consequence of damage from some water damage at the property I have was able negotiate compensation from the seller of six thousand pounds taking the form of a reduction in the price. I had intended this to be addressed as part of a side agreement but HSBC will not agree to this. Why were they notified?
Your solicitor being on the HSBC approved list is duty bound to inform HSBC of any amendments to the sale price. If you prohibit your property lawyer to notify the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new lawyer for your conveyancing in March.
Why do I have to pay up front for conveyancing in March?
If you are buying a property in March your solicitor will request that you put them with monies to cover the the cost of the conveyancing searches. Ordinarily this is asked for to cover the fees of the conveyancing searches. If any down payment is payable against the total price then this will be asked for shortly in advance of contracts are exchanged. Any further balance that is due will be payable a couple of days ahead of the day of completion.
Is it the case that all March conveyancing solicitors on the Yorkshire BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.
We have agreed to purchase a house in March. An unusual aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Barclays your lawyer must comply with the formal requirements contained in Part 2 of UK Finance Lenders’ Handbook for Barclays. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Barclays where a lease does not satisfy these specifications. The provisions relate to the installation of panels on properties nationwide and is not isolated to March.
We were going to get a AIP from Principality this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any March solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint March solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I used Wolstenholmes a few years past for my conveyancing in March. I now require my file however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down 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 March of the conveyancing firm of solicitors you previously hired, 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 my first flat in March with a loan from Chelsea Building Society. The builders would not budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not reveal to my conveyancer about the deal as it may adversely affect my loan with Chelsea 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.
Should I go with a March conveyancing lawyer in close proximity to the house I am purchasing? We have a good friend who can carry out the legal formalities but his firm is located approximately 350miles drive away.
The benefit of a high street March conveyancing firm is that you can visit the firm to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. Having local March know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and the majority were content that must surpass using an unknown March conveyancing solicitor solely due to them being based in the area.