Finally, a loan agreement from NatWest for the refinancing of my 2 bedroom garden flat is due by the end of next week. Are you able to propose a low cost conveyancing solicitor in March?
You are on the wrong site if you are in need of the cheapest conveyancing solicitors in March. Our aim is to provide cost effective conveyancing but we do not aim to advertise as being the cheapest. Resist the temptation to appoint organisations enticing you with £100 conveyancing in March. At best, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst it will result in you spending a lot in additional fees and still not receive the service expected.
We wanted to use a property lawyer in March for our house purchase. Our financial adviser informed us that our mortgage lenders Bank of Scotland won't deal with them. Surely this is unduly restrictive?
A decade ago most banks had a different appetite for risk. Almost all March conveyancing firms would have been on most lender panels. The Financial Services Authority in 2010 completed a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms relating to their operations and their employees and establishing certain criteria such a completing on a minimum amount of conveyancing. Many March conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. March is one of the many areas where the solicitors we recommend are are approved Bank of Scotland.
2 months have elapsed following my purchase conveyancing in March completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. 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 my first flat in March benefiting from help to buy. The sellers would not move on the price so I negotiated £7000 of extras instead. The sale representative suggested that I not disclose to my conveyancer about this side-deal as it will affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. March is the location of the property. What do you suggest?
Flying freeholds in March are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside March you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in March may determine 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.
My folks cant seem to find their March land registry title on the website. They have a vague recollection 50 years ago when they purchased the property there were complications regarding the post code not being identified on some systems.
The vast majority of properties in March should show up. Have you limited your search with just the postcode. Ordinarily it should disclose all the houses and flats inside that postcode. Where registered it will be there with a title number. Where they bought back in the 60’s it's conceivable it may be not yet registered. The property could still be revealed but with the title number shown 'na'. In this scenario you will need to find the original title papers which might be with your parent’s bank.