My husband and I are looking to acquire a flat in Altrincham and have instructed a Altrincham conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. HSBC Bank have this morning contacted us to inform me that they have now hit a problem as our Altrincham conveyancer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property requiring a mortgage it is normal for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Altrincham solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
We are acquiring our first property. The conveyancing practitioner has contact usto enquire if we want to order supplemental conveyancing searches. Unfortunately we have no idea as to what's relevant for conveyancing in Altrincham
The range of Altrincham conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your familiarity of the area and risks, your general appetite to risk. What is important is that you properly comprehend what information each search could provide. Then you can decide if you personally think you need that search. If unclear, ask the conveyancer to advise.
Forgive me if this question is silly but I am unexperienced as a 1st time purchaser of a garden flat in Altrincham. Do I receive the keys to the premises on completion from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Altrincham?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s solicitors, and once they have received this, you should be invited to receive the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
When it comes to lenders such as Coventry BS, do Altrincham conveyancers incur an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I am expecting a DIP from HSBC this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do HSBC recommend any Altrincham solicitors on the HSBC conveyancing panel, or is it better to go independently?
You will need to appoint Altrincham solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
I'm buying my first flat in Altrincham with a mortgage from Britannia. The builders would not budge the amount so I negotiated 6k of additionals instead. The house builders rep suggested that I not to tell my lawyer about this side-deal as it could impact my loan with Britannia. Should I keep quiet?.
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.
How does one remove a deceased person's details from the title deeds for a house in Altrincham?
Where a Altrincham property is jointly owned and one of the owners passes away, the name will not immediately be removed from the Land Registry title. You are not required to amend the title as when it comes to a disposal your conveyancer would simply be required to supply proof why the other owner is not included in the contract, such as the probate documents.
With a view to making things smoother in the future you can apply to have the deceased name erased from the title register by applying to the land registry with evidence of the death. There is no land registry fee payable.