Why do I have to pay up front for my conveyancing in Great Dunmow?
Where you are retaining lawyers for conveyancing in Great Dunmow your solicitor will ask you put them with monies to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the Local Authority Search. If any down payment is payable against the purchase price then this should be asked for immediately prior to exchange of contracts. The final balance that is needed should be sent to your lawyer a couple of days ahead of the completion date.
I am considering applying for a Virgin Money mortgage for purchase of a new build (under development) in Great Dunmow with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Should our lawyer be asking questions about flooding as part of the conveyancing in Great Dunmow.
Flooding is a growing risk for lawyers carrying out conveyancing in Great Dunmow. There are those who purchase a property in Great Dunmow, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, however there are a number of checks that may be undertaken by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Great Dunmow. The conventional set of information given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover if the premises has ever been flooded. If the premises has been flooded in past and is not notified by the vendor, then a purchaser may bring a compensation claim stemming from an inaccurate response. A buyer’s conveyancers should also order an environmental search. This should disclose whether there is any known flood risk. If so, more detailed inquiries will need to be made.
I'm purchasing a new build house in Great Dunmow with the aid of help to buy. The sellers would not budge the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not to tell my lawyer about the extras as it could affect my loan with the lender. Should I keep quiet?.
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.
In my capacity as executor for the estate of my uncle I am disposing of a property in Monmouth but live in Great Dunmow. My lawyer (based 200 kilometers from mehas requested that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Great Dunmow who can attest this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are located in Great Dunmow