My fiance and I are planning to buy a flat in Uxbridge and have appointed a Uxbridge conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Coventry Building Society have this morning contacted us to advise us that there is now an issue as our Uxbridge solicitor is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is standard for the purchasers' solicitors to also act for 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 Quality Scheme. Your property lawyer should contact your lender 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Uxbridge solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
It has been 2 months since my purchase conveyancing in Uxbridge took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Uxbridge with the aid of help to buy. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The house builders rep told me not reveal to my conveyancer about this extras as it could adversely affect my loan with the lender. Is this normal?.
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.
How simple is it to swap firm as I have to find a firm on the Leeds Building Society conveyancing panel. I was using a high street conveyancing solicitor in Uxbridge round the corner but he is not accepted by Leeds Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Uxbridge on the Leeds Building Society panel. Please note that the conveyancers that we on the directory do not pay us commission if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Uxbridge. Using search facility on this site, you can compare charges for conveyancing solicitors in Uxbridge and beyond.
I need to instruct a conveyancing solicitor for purchase conveyancing in Uxbridge. I've stumble upon a web site which looks to be the ideal answer If it is possible to get all formalities done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
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?
I have miscalculated my finances and am a couple of grand short a 10% deposit on my apartment purchase in Uxbridge , but I still want to proceed. Do I have options?
You can accept a lower deposit. Most vendors will accept a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute