Me and my partner are about to complete on the purchase of a property in Royton but as a result of damage from some water damage at the property I have was able negotiate reparation from the owner of £3k taking the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process but Coventry BS are not allowing this. Why were they approached?
The property lawyer that is on the Coventry BS conveyancing panel is duty bound to advise Coventry BS of any amendments to the sale price. If you prohibit your conveyancer to disclose the price change to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new property lawyer for your conveyancing in Royton.
We're in Royton, FTBs purchasing with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We had appointed conveyancers locally in Royton on the Virgin Money solicitor panel. They are now charging me a further sum for the legal aspects of the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer can charge a fee for this. The charge is not set by Virgin Money but by your Royton solicitor. Plenty of firms on the Virgin Money panel will charge an ‘acting for lender’ fee and others do not.
We are getting the release of further monies on our mortgage from Barclays as we wish to conduct improvements to our property in Royton. Are we obliged to appoint a high street Royton solicitor on the Barclays conveyancing panel to deal with the paperwork?
Barclays would not normally require firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays panel.
We expect to receive a OIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Royton solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Royton solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I decided to have a survey completed on a property in Royton before instructing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some lenders may refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you contact us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Royton. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are FTB’s - agreed a price, yet the property agent told us that the vendor will only issue a contract if we use their recommended conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a high street solicitor used to conveyancing in Royton
It is highly unlikely the sellers are behind this. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is going to damage their objectives. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you will continue to appoint your preferred Royton conveyancing lawyers - rather thanthe ones that will provide the negotiator at the agency a introducer fee or hit his conveyancing figures demanded by senior management.