My husband and I are looking to buy a flat in Rednal and have instructed a Rednal conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Bank of Ireland have this evening contacted us to advise us that there is now an issue as our Rednal lawyer is not on their approved list of lawyers. What do we do from here?
If you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Rednal lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Just bought a semi-detached house in Rednal , how long should it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Rednal conveyancing solicitor works at snail pace, so I want to be certain that my name is recorded.
As far as conveyancing in Rednal registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can vary subject to the party submitting the application, whether it is in order and if the Land registry communicate with any other persons or bodies. At present roughly three quarters of submission are fully addressed within 12 days but some can be subject to protracted delays. Historically registration is effected once the purchaser has moved in to the premises therefore 'speed' is not always primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.
I'm buying my first flat in Rednal with a loan from Aldermore. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not disclose to my lawyer about this deal as it may affect my mortgage with the lender. Should I keep quiet?.
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 Rednal in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks may refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different instructions from Birmingham Midshires. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Rednal. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rednal to see if the conveyancing costs will increase in light of this.
My business partner and I are intending to take over a lease of an office on a shopping parade. Can you recommend solicitors offering no-move-no costs for non-domestic conveyancing in Rednal for under 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Rednal, including the disposal and purchase of businesses as well as simply premises. Whether you are hoping to purchase or lease a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right solicitor. Regarding the fees this will depend on the structure and complexity of the deal. Let us have your contact information or email us so that we can supply you with comprehensive commercial conveyancing quote.