I am buying a garden flat in Newent. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Newent you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Newent.
My partner and I are downsizing from our property in Newent and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the buyers instructed an online conveyancing firm as opposed to a conveyancing solicitor in Newent. Having lived in Newent for six years we know that this is a non issue. Do we contact our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
It has been five months since my purchase conveyancing in Newent concluded. 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 premises 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'm buying my first flat in Newent with the aid of help to buy. The developers refused to move on the amount so I negotiated £7000 of additionals instead. The property agent told me not to tell my solicitor about this extras as it could impact my mortgage with the lender. Do I keep my lawyer in the dark?.
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 opted to have a survey completed on a house in Newent ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies will not issue a mortgage on such a premises.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Newent. Conveyancing will be smoother if you use a solicitor in Newent especially if they are acquainted with such properties in Newent.
Is there a reason that Newent conveyancing charges differ for leasehold and freehold properties?
Inevitably there is increased work needed in leasehold conveyancing. Newent has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.