When can the exchange of contracts take place for sale conveyancing in Killay and am I required to attend the solicitors branch?
Where you are local to one of the conveyancing solicitors in Killay you are invited in to sign the paperwork. However, the lender approved solicitors we recommend provide countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when communicating with you by post or email. The signing of the property agreement is not the important part. A signed contract is just a prerequisite for the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Killay)to be in the office at the appropriate time.
My Conveyancer in Killay is not on the Norwich and Peterborough Building Society Approved Panel. Can I still use my prefered solicitor notwithstanding that they are not on the Norwich and Peterborough Building Society list of approved lawyers?
The limited options available to you here include:
- Complete the purchase with your existing Killay lawyers but Norwich and Peterborough Building Society will need to use a conveyancer on their panel. This will result in additional overall legal charges as well as result in delays.
- Choose a new lawyer to act in the purchase, obviously checking they are on the Norwich and Peterborough Building Society panel
Forgive me if this question is silly but I am unseasoned as a 1st time buyer of a garden flat in Killay. Do I receive the keys to the house on completion from my lawyer? If so, I will appoint a High Street conveyancing solicitor in Killay?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
We had appointed conveyancing lawyers located in Killay on the Virgin Money solicitor panel. They are now charging me an additional fee for dealing with the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your lawyer is entitled to charge a fee for this. The charge is not dictated by Virgin Money but by your Killay property lawyer. Plenty of firms on the Virgin Money panel will quote an ‘acting for lender’ fee and others do not.
I was told four weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Killay is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am purchasing my first flat in Killay benefiting from help to buy. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The property agent told me not to tell my lawyer about this deal as it could adversely affect 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.
I have been pointed in your direction by numerous estate agents in Killay to find a property lawyer using your seach tool. Is there a financial upside for Estate Agents to promote your services over and above another?
We refuse to make any referral fee for sending work our way. We found it would be just too difficult to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.