We selected a local lawyer for my conveyancing in Suffolk last week. After carefully reading the Terms and Conditions I seeI am on the hook for fees even where the transaction does not complete. Should I go with them or appoint a web based firm who offer no move no charge conveyancing in Suffolk?
It is usually a trade off in that if "No Sale No Fee" is available then the conveyancing charges will tend to be be uplifted to offset those transactions that do not proceed. Please beware that these arrangements tend not to protect you from expenditure such your Suffolk conveyancing search charges.
My wife and I are buying a brand new apartment in Suffolk and my solicitor is informing me that she has to the lender to reveal incentives from the developer. I am nearing the developer’s deadline to sign contracts and my preference is not to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What does a local search inform me concerning the property my wife and I purchasing in Suffolk?
Suffolk conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for example Xpress Legal The local search plays an important role in many a Suffolk conveyancing purchase; as long as you don’t want any nasty once you have moved into your new home. The search will supply information 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 13 subject areas.
I have a semi-detached Georgian property in Suffolk. Conveyancing practitioner acted for me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Suffolk and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing practitioner who conducted the conveyancing.
I am purchasing a new build house in Suffolk with a loan from Yorkshire Building Society. The developers would not move on the price so I negotiated 6k of extras instead. The house builders rep suggested that I not disclose to my solicitor about the side-deal as it would impact my mortgage with the bank. Is this normal?.
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.
What could I expect to pay for conveyancing in Suffolk?
Almost all Suffolk conveyancing solicitors will agree to a standard fee. Where extra work become due during the conveyancing your solicitor should inform you in writing of any supplemental charges for such work as soon as it becomes foreseeable. Some work on a no sale no charge offering, others will charge a percentage of the agreed fee, according to the point at which the matter fails.
It is advisable to obtain a few practices to supply you a quotation.