When it comes to lenders such as Kent Reliance, do Buckinghamshire lawyers incur a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
We previously appointed conveyancing lawyers locally in Buckinghamshire on the Co-operative solicitor panel. They are now charging me a supplemental charge for dealing with the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancer is entitled to charge a fee for this. This charge is not set by Co-operative but by your Buckinghamshire solicitor. Numerous firms on the Co-operative panel will charge an ‘acting for lender’ fee but many firms include it on their overall fee.
I recently had an offer accepted on an apartment in Buckinghamshire. My mortgage broker suggested a lawyer. I paid an advanced payment of £175. A few days later, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been 2 months following my purchase conveyancing in Buckinghamshire completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Buckinghamshire benefiting from help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not disclose to my conveyancer about the deal as it would adversely affect my loan with National Westminster Bank. 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.
Are there common defects that you come across in leases for Buckinghamshire properties?
There is nothing unique about leasehold conveyancing in Buckinghamshire. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the property
You could encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , The Mortgage Works, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.
Buckinghamshire Leasehold Conveyancing - Sample of Queries Prior to buying
How much is the ground rent and service charge? Is there a share of the freehold?
New build sellers have suggested I use a lawyer and I've sought an estimate from them. They are almost three hundred pounds less expensive than my family Buckinghamshire lawyer. What's the catch?
Housebuilders often have panels of conveyancing practitioners who expedite matters and who know the builder's contract and solicitor. Plenty of developers offer an incentive to use a preferred solicitor for this reason, any increased charges can be avoided and a builder will not recommend a conveyancing warehouse and run the risk of having the conveyancing stall when they require an exchange in 28 days. A counter-argument for not opting for the suggested conveyancer is that they may prove unwilling to 'push' your interests at the risk of alienating the housebuilder. If you worry that this may be the situation you should stick with your high street Buckinghamshire property lawyer.