Why do I have to pay up front when it comes to conveyancing in Machen?
If you are buying a property in Machen your lawyer will ask you place them with funds to cover the search fees. Ordinarily this is needed to cover the fees of the conveyancing searches. When the down payment is payable against the purchase price then this will be needed shortly prior to contracts are exchanged. The closing balance that is needed should be transferred a few days ahead of the day of completion.
My uncle informed me that in purchasing a property in Machen there may be various restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of anumerous of properties in Machen which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Machen should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We have agreed to purchase a house in Machen. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that you are obtaining a mortgage with Barclays your lawyer must comply with the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Barclays where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties nationwide and is not restricted to Machen.
After weeks of negotiation I have agreed a price on a house in Machen. My financial adviser suggested a solicitor. I paid an on account payment of £150. Shortly after, the property lawyer contacted me to say that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
It has been three months since my purchase conveyancing in Machen concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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 Machen with the aid of help to buy. The builders would not reduce the price so I negotiated £7000 of extras instead. The estate agent told me not inform my lawyer about the extras as it would affect my mortgage with Barclays . 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.
My husband and I are novice buyers - had an offer accepted, but the selling agent told us that the vendor will only proceed if we use the agent's preferred lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer used to conveyancing in Machen
It is improbable the sellers are driving this. Should the owner require ‘a quick sale', alienating a motivated buyer is not the way to achieve this. Try to communicate with the vendors directly and make the point that (a)you are keen to buy (b)you are ready to go, with finances in place © you are chain free (d) you wish to move quickly (e)however you intend to use your own,trusted Machen conveyancing solicitors - not the ones that will provide the negotiator at the agency a kickback or hit his conveyancing targets pre-set by corporate headquarters.