When does exchange of contracts occur in sale conveyancing in Portland and am I required to attend the lawyers branch?
If you are in close proximity to one of the conveyancing solicitors in Portland you are welcome to attend to sign the paperwork. However, the law practices we work with offer countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you electronically. The executing of the contract is not the point of no return. Signing on the dotted line simply enables the solicitor to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Portland)to be in the office available at the end of the phone to exchange contracts.
We are getting the release of further monies on our mortgage from Principality as we wish to carry out renovations to our property in Portland. Are we obliged to appoint a local Portland solicitor on the Principality conveyancing panel to handle the paperwork?
Principality don't usually instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality panel.
About to purchase house in Portland. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Portland conveyancer is on the Barclays conveyancing panel.
Kent Reliance have agreed my home loan in principle, my offer on a house in Portland has been accepted, now what?
The estate agent will wish to be advised as to your conveyancer's details (ensure that the solicitors are on the bank’s panel). Contact Kent Reliance or the financial adviser and complete any appropriate documentation. Kent Reliance will appoint a valuer who will get in touch with the selling agent or vendor to book a time for the valuation to happen. Once conducted (assuming no problems) it takes about a week to get a mortgage offer. Kent Reliance will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Portland.
What will a local search tell me about the house I am purchasing in Portland?
Portland conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations such as PSG The local search is essential in every Portland conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
Me and my brother have a terraced Edwardian property in Portland. Conveyancing lawyer represented me and TSB. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Portland and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing lawyer who conducted the conveyancing.
I am buying a new build house in Portland benefiting from help to buy. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my solicitor about the extras as it would adversely affect my mortgage with HSBC Bank. 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.
When it comes to my conveyancing in Portland should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Portland conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.