As a novice what is the most important number one tip you can impart about purchase conveyancing in Southwold?
You may not hear this from too many lawyers but conveyancing in Southwold or throughout Suffolk is an adversarial experience. In other words, when it comes to conveyancing there is an abundance of opportunity for conflict between you and others involved in the transaction. For instance, the vendor, selling agent and on occasion a lender. Selecting a lawyer for your conveyancing in Southwold is a critical decision as your conveyancer is your adviser, and is the ONE person in the legal process whose responsibility is to act in your best interests and to keep you safe.
There is a definite ongoing adversarial element to conveyancing- someone must be at fault for the process taking so long. We recommend that you your first instinct should be to trust your conveyancer ahead of the other parties in the conveyancing process.
Me and my partner are buying a flat in Southwold. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I had a mortgage agreed in principle with Yorkshire BS. Southwold conveyancing solicitors were chosen. How long does it take for Yorkshire BS to send the offer to the property lawyer?
Some lenders take longer than others. Have Yorkshire BS conducted the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with Coventry BS. I assume I don't need a Southwold property lawyer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
Despite weeks of looking the Title Certificate and documents to my property can not be found. The lawyers who did the conveyancing in Southwold 10 years ago have long since closed. What are my options?
These day there are duplicates made of almost everything, and your conveyancer should be aware exactly where to look for all the appropriate paperwork so you may buy or sell your house without any difficulty. Where copies are not available, your solicitor may be able to arrange cover in the form of insurance or indemnities against possible claims on your premises.
I'm purchasing my first flat in Southwold benefiting from help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not to tell my lawyer about this deal as it may jeopardize 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.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Southwold is the location of the property. What do you suggest?
Flying freeholds in Southwold are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Southwold you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southwold may decide 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.