Me and my partner are soon to exchange on the purchase of a house in Rhos On Sea but as a consequence of damage from a small fire at the property I have managed to agree compensation from the seller of three thousand pounds by way of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process however Leeds Building Society are not allowing this. Should they have been approached?
Your property lawyer being on the Leeds Building Society approved list is duty bound to inform Leeds Building Society of any changes to the purchase price. If you were to refuse your property lawyer to disclose the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancer for your conveyancing in Rhos On Sea.
Forgive me if this question is silly but I am new to the process as a 1st time buyer of a two bedroom flat in Rhos On Sea. Do I receive the keys to the premises on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Rhos On Sea?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you should be called to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
We previously appointed conveyancing lawyers located in Rhos On Sea on the Bank of Ireland solicitor approved list. They are now charging me a further sum for handling the Bank of Ireland mortgage. Is this an additional conveyancing fee set by Bank of Ireland?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your conveyancing practitioner may charge a fee for this. This charge is not dictated by Bank of Ireland but by your Rhos On Sea property lawyer. Some firms on the Bank of Ireland panel will quote an ‘acting for lender’ fee but many practices include it on their overall fee.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Rhos On Sea solicitor - who is on the Yorkshire BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Rhos On Sea surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am purchasing my first flat in Rhos On Sea with the aid of help to buy. The builders would not reduce the amount so I negotiated 6k of additionals instead. The sale representative suggested that I not to tell my solicitor about the deal as it may put at risk my loan 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.
How do I use the search tool to locate a conveyancing practitioner in Rhos On Sea on the authorised to act for my lender?
1st choose a lender such as Halifax, Coventry Building Society or Bank of Ireland then choose your location e.g. Rhos On Sea. Conveyancing practices in Rhos On Sea and nationally will then be shown.
What tools are available to find a Rhos On Sea conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to twentykilometers to attend the lawyer.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Rhos On Sea and you will see a number of lawyer located nearest Rhos On Sea. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.