We're in East Barnet, First time buyers purchasing with a mortgage (lender is UBS , and our solicitor is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying a new build house in East Barnet with a mortgage from Skipton Building Society. The developers refused to reduce the amount so I negotiated £7000 of additionals instead. The property agent told me not reveal to my lawyer about the deal as it would impact my mortgage with Skipton Building Society. Do I keep my lawyer in the dark?.
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.
I am looking for a ground for flat up to £195,000 and identified one close by in East Barnet I like with amenity areas and station nearby, however it only has 51 years on the lease. I can't really find anything else in East Barnet for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage that many years may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
Taking into account that I will soon part with hundreds of thousands of pounds on a terraced house in East Barnet I wish to talk to a lawyer about myhome move before giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your conveyancing in East Barnet.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in East Barnet should be the amount on the final invoice that you end up paying.
Is it possible for you to suggest a lawyer for buying a bungalow? Ideally someone in the East Barnet area, who will communicate via email - not someone who insists on a letter in the post or fax.
LenderPanel.com is restricted to being a directory service for solicitors who want to be listed as being on the approved conveyancing panel for TSB in certain areas such as East Barnet . We dont recommend any particular conveyancer.