We are about to exchange contracts for a garden flat in Nunthorpe. We have hit a stumbling block. Our loan offer with Norwich and Peterborough Building Society expires on 15/12/2025 but the owners are insisting on a completion date of 17/12/2025. Is it possible to prolong the mortgage offer?
The best person to address this concern is your conveyancer who is in a position to determine whether he or she is corresponding with the mortgage company, vendor’s conveyancers, estate agents or possibly all parties taking into account what has gone on in your conveyancing as of today.
What does my ID and proof of funds have anything to do with my conveyancing in Nunthorpe? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identity of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Client Care letter that you need to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you are unwilling to hand over ID verification documents, your conveyancer will not be able to take you on as a client.
The Nunthorpe conveyancing lawyers that I appointed last week on my house acquisition in Nunthorpe have without warning closed. I chose them because I needed a solicitor on the Lloyds conveyancing panel and my family Nunthorpe lawyer was not. I wrote them a cheque for two hundred pounds in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know 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 will need to appoint new lawyers that are on the Lloyds 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 assist.
I am buying a new build house in Nunthorpe with a loan from Barclays . The developers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not disclose to my lawyer about the deal as it may affect my loan with the bank. Is this normal?.
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.
I am purchasing a garden apartment in Nunthorpe. Conveyancing lawyer has been waiting for, from the vendor, building insurance paperwork. I was told today I was advised that the seller must send the insurance schedule for the flat above in addition. Why would my conveyancing practitioner want to see the insurance for the other flat? Is it strictly required? We have been in hold for the last 4 weeks…
It is not impossible in leasehold conveyancing in Nunthorpe to discover Conveyancing in Nunthorpe in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats rather than the landlord insuring the complete block - which is clearly better. Do double check with your conveyancer but it would appear that your conveyancing practitioner is looking to verify that the whole building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt due to lack of insurance.