The Hedge End and Botley conveyancing solicitors that I recently instructed on my purchase in Hedge End and Botley have suddenly shut down. I chose them because I needed a firm on the Skipton conveyancing panel and my family Hedge End and Botley lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors 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 Skipton 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 solicitors should be in a position to help.
I am buying a property in Hedge End and Botley. One unusual aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is RBS your lawyer must comply with the formal instructions outlined in Section 2 of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and solicitors are required to report to RBS where a lease does not satisfy these conditions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Hedge End and Botley.
It is not clear whether my bank requires a lease extension. I have called my Hedge End and Botley building society branch on numerous occasions and was told it wasn't a problem and they will lend. My Hedge End and Botley conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
As long as the conveyancing practitioner is on the bank panel, she or he must follow the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Nationwide have agreed my mortgage in principle, my bid on a property in Hedge End and Botley has been agreed to, now what?
Your estate agent will want to be informed of your property lawyer's details (be sure the lawyers are on the bank’s panel). Contact Nationwide or the financial adviser and finalise any appropriate documentation. Nationwide will instruct a valuer who will get in contact with the selling agent or vendor to schedule a time for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Nationwide will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Hedge End and Botley.
Will our solicitor be raising enquiries about flooding during the conveyancing in Hedge End and Botley.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Hedge End and Botley. Plenty of people will purchase a property in Hedge End and Botley, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, however there are a numerous 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 Hedge End and Botley. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to find out whether the premises has ever been flooded. In the event that the residence has been flooded in past and is not disclosed by the owner, then a buyer could issue a compensation claim as a result of such an incorrect response. The purchaser’s lawyers should also order an enviro search. This will disclose whether there is a recorded flood risk. If so, further investigations will need to be conducted.
I am buying my first flat in Hedge End and Botley with a loan from Halifax. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my lawyer about this side-deal as it will adversely affect my loan with Halifax. Should I keep quiet?.
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.
My brother has encouraged me to instruct his lawyers for conveyancing in Hedge End and Botley. Should I find my own solicitor?
Much as we are happy to recommend a Hedge End and Botley conveyancing lawyer it’s preferable to choose a conveyancing solicitor is to have recommendations from friends or family who have actually used the solicitor you're contemplating using.