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Ready to buy a new home in Polegate? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Polegate home move at risk of delay or failure.

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Recently asked questions about conveyancing in Polegate

The sellers of the property we are looking to purchase hired a conveyancing firm in Polegate who has recommended a exclusivity agreement with a payment 6,000. Are such arrangements the norm for Polegate conveyancing transactions?

Exclusivity agreements are contracts between a home vendor and prospective acquirer giving the buyer exclusive rights to the sale of the property within an agreed time frame. For all intents and purposes, an exclusivity is a document specifying that you will receive a contract at a later time which is the main conveyancing contract. It is generally utilised for buyer protection though in some cases, the proprietor may stand to benefit from such agreements as well. There are numerous pros and cons to having an agreement but you need to check with your solicitor but beware that it may end up incurring extra in conveyancing charges. In light of these reasons these agreements are avoided when it comes to conveyancing in Polegate.

Will conveyancers request money on account for my conveyancing in Polegate?

Where you are retaining lawyers for conveyancing in Polegate your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the total price then this should be asked for shortly before contracts are exchanged. The closing balance that is needed will be payable a couple of days prior to the completion date.

I'm buying my first flat in Polegate with a loan from Clydesdale. The builders refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not to tell my solicitor about this extras as it would jeopardize my loan 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.

Due to the advice of my in-laws I had a survey completed on a property in Polegate in advance of retaining conveyancers. I have been told that there is a flying freehold element to the property. The surveyor advised that some mortgage companies may not grant a mortgage on such a house.

It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Polegate. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Polegate to see if the conveyancing costs will increase in light of this.

I need to retain a conveyancing solicitor for purchase conveyancing in Polegate. I've discover a site which appears to be the perfect answer If it is possible to get all this stuff done via phone that would be ideal. Should I be wary? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

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Find out more about how flying freehold can affect your the value of a property.