My partner and I are buying our first house. The conveyancer has contact usto check if we would like to purchase additional conveyancing searches. Frankly we are clueless as to what's needed for conveyancing in Tiptree
The type of Tiptree conveyancing searches should be triggered based entirely on the property, the location, the likelihood of any of these risks, your knowledge of the region and risks, your general appetite to risk. What matters is that you adequately comprehend what information each search could give you. You may then make a decision if you consider that you need that information. Where you are unsure, ask the conveyancer to advise.
At what point can the exchange of contracts take place for purchase conveyancing in Tiptree and am I required to be at the solicitors office?
If you are in close proximity to one of the conveyancing solicitors in Tiptree you are invited in to sign documents. That being said, the lender approved solicitors we work with offer countrywide coverage for conveyancing and give as equally detailed and professional a job for you when communicating with you by post or email. The executing of the contract is not the critical part. A signed contract is just a prerequisite for the firm to address the formalities at the suitable time, which is ordinarily shortly after signing. The exchange process 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 Tiptree)to be in the office at the appropriate time.
A colleague suggested that if I am purchasing in Tiptree I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Tiptree conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Tiptree around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Tiptree.
I'm purchasing a new build house in Tiptree benefiting from help to buy. The developers refused to budge the amount so I negotiated £7000 of extras instead. The property agent advised me not disclose to my conveyancer about the extras as it will impact my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Should I use a Tiptree conveyancing practitioner who is local to the property I am buying? I have an old university friend who can perform the legal formalities but his firm is located 200miles away.
The primary upside of using a local Tiptree conveyancing firm is that you can attend the office to execute paperwork, deliver your identification documents and pester them if necessary. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were content that must outweigh using an unfamiliar Tiptree conveyancing solicitor just because they are local.
Our solicitor in Tiptree has identified a a problem with the lease for the flat we are purchasing in Tiptree. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Tiptree conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. The appropriate lender requirements have to be complied with by the bank conveyancing panel who has to balance acting for you and the mortgage company