We note that you have a search directory identifying firms on the Principality conveyancing panel. Do firms pay you a commission if I retain them for our conveyancing in Forest of Dean?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Forest of Dean.
I'm buying a new build house in Forest of Dean with a loan from Nationwide Building Society. The developers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not reveal to my conveyancer about this side-deal as it may impact my loan with the lender. 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.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Forest of Dean I like with a park and station in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Forest of Dean suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.
Do I need to be wary that third parties that I am dealing with are recommending an internet conveyancing firm as opposed to a local Forest of Dean conveyancing practice?
As with many service providers, often input from connections can be extremely useful or valuable. Nevertheless there are many players in a conveyancing transaction; estate agents, financial adviser and banks may recommend lawyers to select. Sometimes the lawyers might be known to one of the organisations as experts in their field, but occasionally there might be a commercial relationship behind the recommendation. You are free to appoint your own lawyer. However, bear in mind that many banks operate an approved list of conveyancers you have to use for the lender related work in your transaction.
I have been advised by many friends to expect 6-8 weeks for Forest of Dean conveyancing to complete.This was four weeks ago. The paperwork was only forwarded to my conveyancer yesterday so now does it countdown?
Six to eight weeks is an extremely rough timescale. Addressing accurately how how many weeks Forest of Dean conveyancing will take is an impossible task. Every Forest of Dean conveyancing transaction will have it’s own unique set of complexities. As a result your conveyancing practitioner should find it difficult to accurately predict the length of time it will take to finalise your conveyancing in Forest of Dean.