My fiance and I are hoping to buy a house in Raynes Park and are in fact using a Raynes Park conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Halifax have this evening contacted us to inform me that they have now hit a problem as our Raynes Park conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Raynes Park lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Will my conveyancer be asking questions regarding flooding during the conveyancing in Raynes Park.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Raynes Park. Some people will buy a property in Raynes Park, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, however there are a number of checks that may be undertaken by the purchaser or by their lawyers which will figure out the risks in Raynes Park. The conventional set of completed inquiry forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to discover if the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the vendor, then a buyer could bring a claim for damages resulting from an misleading reply. The purchaser’s conveyancers may also order an environmental report. This should higlight if there is any known flood risk. If so, additional inquiries should be carried out.
I'm buying a new build house in Raynes Park with the aid of help to buy. The developers would not reduce the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not disclose to my lawyer about this deal as it would put at risk 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've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Raynes Park is the location of the property. What do you suggest?
Flying freeholds in Raynes Park are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Raynes Park you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Raynes Park 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.
Taking into account that I will soon spend £400,000 on a garden flat in Raynes Park I wish to talk to a conveyancer about mytransaction prior to appointing the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be carrying out your conveyancing in Raynes Park.There is no ‘factory style conveyancing’ - each client is an important person, not a matter number. The practices that we put you in touch with believe that the fees you are quoted for your conveyancing in Raynes Park should be the amount on the final invoice that you are charged.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Raynes Park. I have chance upon a site which appears to be the perfect solution If there is a chance to get all the legals completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?