I chose a Wisbech based solicitor for our conveyancing in Wisbech today. Upon checking the Terms I notewe are responsible for charges even if the sale doesn't happen. Would I be best advised to select an internet lawyer who offer no completion no charge conveyancing in Wisbech?
Generally there is a concession along the lines that if "No Completion No Fee" is offered then the fee levels will tend to be be uplifted to neutralise the transactions that fail to complete. You should be mindful that such promotions tend not to cover expenses such your Wisbech conveyancing search expenses.
My wife and I are getting closer to an exchange on a flat in Wisbech and my mum and dad have sent the 10% deposit to my lawyer. I am now advised that as the deposit has been received from someone other than me my solicitor needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is legally required to check with lender to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Do I need to take out insurance to cover chancel repairs when purchasing a property in Wisbech?
Unless a previous purchase of the house completed after 12 October 2013 you could take it that lawyers delivering conveyancing in Wisbech to remain recommending a chancel search and or chancel repair liability insurance.
I purchased a terraced Victorian property in Wisbech. Conveyancing practitioner acted for me and Barclays Direct. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wisbech and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
I am buying my first flat in Wisbech with a mortgage from Leeds Building Society. The sellers would not budge the price so I negotiated 6k of extras instead. The property agent advised me not to tell my conveyancer about this side-deal as it would jeopardize my mortgage with the bank. 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.
Is there a difference between surveying and conveyancing in Wisbech?
Conveyancing - in Wisbech or elsewhere - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you discover the condition of the building and, if there are problems, give you leverage for reducing the price down or asking the vendor to fix the problems before you move in.