When does exchange of contracts occur in sale conveyancing in Thame and am I required to attend the lawyers branch?
Where you are round the corner to our conveyancing solicitors in Thame you are welcome to attend to sign the paperwork. However, the lender approved solicitors we recommend supply a national conveyancing service and give as equally detailed and professional a job for you when dealing with you digitally. The signing of the purchase agreement is not the point of no return. Signing on the dotted line is necessary for the conveyancer to address the formalities at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Thame)to be in the office available at the end of the phone to exchange contracts.
Me and my partner are purchasing a apartment in Thame. It might be a silly question but how we can trust a solicitor? On the day of competition we have to deposit funds into their account. What is the protection we have from them run away with our money?
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.
Are all Thame Conveyancing Quality Solicitors on the TSB conveyancing list of approved practices?
It is true that some lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
When it comes to lenders such as Barclays, do Thame property lawyers face an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I'm buying my first flat in Thame with a mortgage from Godiva Mortgages Ltd. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not to tell my lawyer about the side-deal as it will jeopardize my loan with the lender. 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 decided to have a survey completed on a house in Thame prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies may refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Thame. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Thame to see if the conveyancing costs will increase in light of this.
When it comes to my conveyancing in Thame should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Thame conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.