I am not in a position to travel far from Hockley. I would like to know the reason why all Hockley conveyancing practitioners aren't included on all bank panels?
Banks tend to impose restrictions on either the type or volume of conveyancing solicitors on their panel. A common example of such restriction(s) being that the practice needs to have at least two partners. As well as restricting the structure of firm, some banks for example HSBC made a decision to reduce the number of organisations they allow to act for them. It is worth noting that building societies have no liability for the quality of service supplied by any Hockley property lawyer on their approved list. Increases in mortgage fraud was the main trigger for the reduction of solicitor panels a few years ago even though there are differing views about whether solicitors sat at the center of that fraud. Data from the Land Registry exposes that thousands of law firms only conduct less than three conveyances a year. Those advocating conveyancing panel culls ask why law firms should have claim to be listed on a bank panel when it is apparent that conveyancing is not their speciality?
Completed the sale of my flat in Hockley last November yet the purchaser is whats apping daily to say their lawyer is waiting to hear from mine. What should my lawyer have done following completion?
Following your sale your conveyancer should deliver the transfer documentation and all of the paperwork to the purchaser's lawyers. Depending on the transaction, your lawyer must also confirm that the home loan has been discharged to the buyers lawyers. There are no post completion procedures just for conveyancing in Hockley.
I'm purchasing a new build house in Hockley with a mortgage from The Royal Bank of Scotland. The sellers would not move on the price so I negotiated £7000 of additionals instead. The sale representative told me not reveal to my solicitor about the deal as it will affect my mortgage with the bank. Is this normal?.
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 have been on the look out for a flat up to £305k and found one round the corner in Hockley I like with open areas and railway links in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Hockley suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I have been told by numerous estate agents to expect 6-8 weeks for Hockley conveyancing to complete.This was 3 ago. The property information was only sent to my conveyancing practitioner a couple of days ago so now does it countdown?
No official countdown exists for conveyancing in Hockley, or any location. You simply have to ensure that your finances are in order and in due course the rest will come to you eventually.