My wife and I are due to complete on the purchase of a house in Scarborough but as a result of wreckage from the recent storms I have managed to agree compensation from the current proprietors of six thousand pounds taking the form of a adjustment in the price. This was going to be addressed as part of amending the contract however HSBC are not allowing this. Why were they involved?
The lawyer that is on a HSBC conveyancing panel is duty bound to inform HSBC of any amendments to the sale price. If you were to refuse your conveyancer to disclose the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new solicitor for your conveyancing in Scarborough.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Scarborough. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 7/5/2024, the requirements read as follows :
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Scarborough I like with open areas and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Scarborough for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan that many years will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I have been advised by a couple of local property agents in Scarborough to locate a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to market your services ahead of another?
We don’t offer any referral fee for sending work our way. We found it would be just too difficult to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
My step-father has urged me to appoint his lawyers for conveyancing in Scarborough. Should I find my own property lawyer?
There are no two ways about it the best way to select a conveyancing practitioner is to get guidance from friends or relatives who have actually used the solicitor that you are considering.