My wife and I are about to exchange on the purchase of a property in Knebworth but as a result of damage from a small fire at the property I have managed to agree recompense from the current proprietors of six thousand pounds by way of a reduction in the price. I had intended this to be dealt with as part of a side agreement yet Aldermore are not allowing this. Should they have been notified?
The solicitor that is on a Aldermore conveyancing panel is duty bound to advise Aldermore of any variations to the purchase price. If you prohibit your conveyancer to disclose the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new property lawyer for your conveyancing in Knebworth.
We're in Knebworth, First timers purchasing with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been told by my solicitor that lack of building regulations insurance is needed on my purchase. What is the level of cover for Knebworth conveyancing?
The appropriate level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such insurances.
When it comes to mortgage companies such as Leeds Building Society, do Knebworth conveyancers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Two weeks ago we had a mortgage agreed in principle with UBS. Knebworth conveyancing lawyers are selected. What is the average time that one could expect to receive a mortgage offer from UBS?
Some lenders take longer than others. Have UBS conducted the valuation? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The deeds to our house are lost. The conveyancers who did the conveyancing in Knebworth 10 years ago have long since closed. What are my options?
As long as the title is registered the details of your proprietorship will be documented by HMLR with a Title Number. It is possible to perform a search at the Land Registry, find your property and order up to date copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will usually hold a certified duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.
I'm remortgaging my existing home to a buy to let loan with Bank of Scotland and I will use the ballance of the raised equity as a deposit on a second house. The location we are looking at is Knebworth. Will your conveyancers be able to act for the two lenders and tie in the conveyances?
Do use our search tool on this page to ensure that the conveyancers are approved by both mortgage companies. On the basis that they are the lawyer will be able to tie up the two transactions but you should have a chat with you conveyancer and specify your desired outcome and requirements.