We're in Shaftesbury, First timers buying with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer 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.
My wife and I are buying a house in Shaftesbury. I might seem paranoid but how we can trust a conveyancer? On completion day we have to send our life savings into their account. What protection do 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 have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Shaftesbury solicitor on the Co-operative panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
My sealed bid on a semi in Shaftesbury has been agreed to, but there is a chain. The vendors have put an offer on on an apartment, however it’s not yet agreed to, and are looking at other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Shaftesbury. What do I do now? At what stage should I apply for the mortgage with Skipton?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx one thousand pounds, then survey, Shaftesbury conveyancing search charges, etc). First, you should ensure that your solicitor is on the Skipton approved list. Concerning the subsequent stages this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. In a buoyant market the majority of home buyers will apply for a home loan with Skipton and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to proceed with the conveyancing in Shaftesbury.
I am buying my first flat in Shaftesbury with the aid of help to buy. The developers would not budge the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my lawyer about this side-deal as it will put at risk my mortgage with the bank. 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've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Shaftesbury is where the house is located. Can you offer any guidance?
Flying freeholds in Shaftesbury are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shaftesbury you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shaftesbury may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am a sole trader intending to take over a lease of a shop on the high street. Can you recommend solicitors offering no-sale-no fees for non-domestic conveyancing in Shaftesbury for below 1500k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Shaftesbury, including the disposal and acquisition of businesses as well as simply premises. If you are hoping to purchase or sell a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. As for the costs these will vary based on the structure and complexity of the proposed transaction. Let us have your details or phone so as to enable us to supply you with comprehensive commercial conveyancing calculation.