My wife and I are soon to complete buying a house in Stockbridge but as a result of wreckage from the recent storms I have was able negotiate compensation from the owner in the sum of £3k in the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process yet Yorkshire BS will not agree to this. Should they have been notified?
The property lawyer that is on a Yorkshire BS conveyancing panel is required to disclose to Yorkshire BS of any variations to the purchase price. If you prohibit your solicitor to report the price change to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new conveyancer for your conveyancing in Stockbridge.
How up to date is your search tool for Stockbridge conveyancing solicitors on the Nottingham conveyancing panel? Do Nottingham send you an updated list?
Stockbridge conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
We're in Stockbridge, First time buyers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm purchasing my first flat in Stockbridge with the aid of help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not disclose to my solicitor about the side-deal as it will impact my loan with Alliance & Leicester . 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.
I am 3 weeks into a leasehold purchase having been directed to a firm by the local agent to carry out the conveyancing in Stockbridge. I am not happy. Could you help me find new conveyancers?
A solicitor would need to be really poor in order to consider diss instructing them. Has the mortgage offer been sent? In the event that it has you will need to inform them of the new contact details and have the loan are re-sent. The conveyancer should be on the lenders approved list to avoid added charges and delays. So that should be your first question of the new lawyers. The search tool can assist you in finding a bank approved conveyancer for your conveyancing in Stockbridge