I am purchasing a semi-detached house in Stotfold. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Stotfold 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 Stotfold.
I happen to be the sole beneficiary of my late father’s estate and I have everything in my name now, including the my former home in Stotfold. The Stotfold property was put into my name in August. I now wish to sell up. I do know about the CML six month 'rule', meaning my property ownership may be regarded the same way as if I'd bought the property in August. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement principally exists to pick up on the purchase and immediately sell or the quick reselling of property.
We previously selected solicitors located in Stotfold on the Bank of Ireland solicitor approved list. They are now charging me a further fee for dealing with the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your solicitor is entitled to charge a fee for this. The fee is not dictated by Bank of Ireland but by your Stotfold lawyer. Some firms on the Bank of Ireland panel will charge an ‘acting for lender’ fee but many firms include it on their overall fee.
I am currently in the process of buying my council flat in Stotfold. I have a mortgage offer with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
Will our conveyancer be raising enquiries about flooding during the conveyancing in Stotfold.
Flooding is a growing risk for lawyers specialising in conveyancing in Stotfold. There are those who purchase a house in Stotfold, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a various searches that can be initiated by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Stotfold. The conventional set of property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to discover whether the property has historically flooded. In the event that flooding has previously occurred and is not disclosed by the vendor, then a purchaser may commence a claim for damages stemming from an incorrect reply. The purchaser’s lawyers may also order an enviro report. This should indicate if there is a recorded flood risk. If so, further investigations should be made.
I'm buying my first flat in Stotfold benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not to tell my lawyer about the deal as it would impact my mortgage 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 issue on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Stotfold is where the house is located. Can you offer any opinion?
Flying freeholds in Stotfold are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stotfold you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stotfold 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.
Do I need to be suspicious by third parties that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Stotfold conveyancing practice?
As with lots of professional services, often suggestions from connections can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing matter; estate agents, financial adviser and mortgage companies might all put forward conveyancers to retain. On occasion the conveyancers might be known to one of the organisations as experts in their field, but occasionally there might be a commercial relationship behind the recommendation. You have the discretion to appoint your preferred conveyancer. Don't forget that the majority of lenders have an approved list of law firms you are obliged to use for the mortgage aspect of your house move.