The Gamlingay conveyancing lawyers that I appointed last week on my house acquisition in Gamlingay have suddenly closed. I chose them because I had to have a firm on the Clydesdale conveyancing panel and my family Gamlingay lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Is it necessary to pay for insurance to cover chancel repairs when buying a house in Gamlingay?
Unless a previous acquisition of the house completed post 12 October 2013 you may assume that lawyers handling conveyancing in Gamlingay to remain recommending a chancel search and or insurance against a claim.
It has been five months since my purchase conveyancing in Gamlingay took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 premises 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 purchasing a new build house in Gamlingay with the aid of help to buy. The builders would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not reveal to my solicitor about this deal as it will adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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.
I opted to have a survey carried out on a house in Gamlingay before retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some banks tend refuse to give a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Gamlingay. Conveyancing may be slightly more expensive based on your lender's requirements.