Do banks and building societies provide you with an approved list of Selly Oak conveyancing solicitors? How do you know who is on the UBS conveyancing panel?
Selly Oak conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
We are purchasing a house in Selly Oak. I might seem paranoid but how we can trust a lawyer? At some point we will need to put money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I had a mortgage agreed in principle with HSBC. Selly Oak conveyancing practitioners were selected. What is the average time that one could expect to receive a mortgage offer from HSBC?
Some lenders take longer than others. Have HSBC conducted the valuation? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am currently in the process of buying my council flat in Selly Oak. I have a mortgage agreed with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I'm buying a new build house in Selly Oak with a loan from Accord Mortgages Ltd. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about the extras as it would jeopardize my loan with Accord Mortgages Ltd. Should I keep quiet?.
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 hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Selly Oak. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Selly Oak are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Selly Oak so you should seriously consider shopping around for a Selly Oak conveyancing practitioner and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your solicitor should report to you on the legal implications.
Selly Oak Leasehold Conveyancing - Examples of Queries Prior to Purchasing
Plenty Selly Oak leasehold apartments will have a service charge for maintenance of the block set by the management company. Where you buy the property you will have to pay this amount, usually periodically throughout the year. This can vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all probability there will be a rentcharge to be met yearly, ordinarily this is not a large amount, say approximately £50-£100 but you need to check as occasionally it could be surprisingly expensive. Who are the managing agents? Can you inform me if there are any major works on the horizon that will likely increase the service charges?
The estate agent has suggested using their lawyer for our conveyancing in Selly Oak - Is it not simpler better to just instruct them?
This is not necessarily the case and you are free to instruct whichever property lawyer you prefer for your Selly Oak conveyancing. A lawyer recommended by an estate agent may not necessarily be the right conveyancer, they may suggest their preferred conveyancing firm who are based remotely. In this instance you may not have contact with your solicitor and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.