My previous conveyancer has sent a quote for £1200 for fixed fee conveyancing in Duffield. I am hoping to downsize from a modern property for £150,000. This seems expensive. Is it above what I should be paying for conveyancing in Duffield?
The estimate does seem marginally overpriced. Where you are prepared to expend time scrutinising charges you might reduce the fees marginally by say £100 plus VAT. That being said, you mightcome to rue choosing an an unknown conveyancer. If is important to enquire that the firm can also act for your bank. You can employ our search tool to locate a Duffield conveyancing firm on the banks approved list of lawyers which can often include conveyancing solicitors in Duffield.
My partner and I swapping mortgage lender for our apartment in Duffield with TSB. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of concerns (1) Is this form unique to the TSB conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your TSB conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to TSB. This is solely used to protect TSB if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of TSB had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Duffield. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 23/11/2022, the requirements read as follows :
I am buying my first flat in Duffield benefiting from help to buy. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not reveal to my conveyancer about the deal as it may affect my loan with the bank. 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Duffield is where the house is located. Is there any guidance you can give?
Flying freeholds in Duffield are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Duffield you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Duffield may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.