My husband and I are hoping to acquire a property in Thatcham and are in fact using a Thatcham conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Barclays have this evening contacted us to inform me that there is now an issue as our Thatcham solicitor is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Thatcham solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Are you able to recommend a Platform Home Loans Ltd sanctioned Thatcham conveyancing practice finish our house move within less than a month? Would it be better to use a local Thatcham firm or a nationwide conveyancer?
We can recommend some very good Thatcham conveyancing firms. Another option is to visit the main road in Thatcham. Go in to a couple of firms and request to see a conveyancing solicitor for a costs illustration. Discuss your time frames together with the reasons and ask for a commitment on speed. Choose the one that you are most comfortable with.
I am buying a new build house in Thatcham with the aid of help to buy. The sellers would not budge the price so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not to tell my solicitor about this side-deal as it may impact my loan with HSBC 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 have been on the look out for a leasehold apartment up to £305k and identified one close by in Thatcham I like with open areas and railway links nearby, however it only has 49 years unexpired on the lease. There is not much else in Thatcham in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I am looking to purchase a repression property in Thatcham and the bank selling demand completion inside 28 days. Do conveyancers meet that timeframe? Am I best advised to select a high street Thatcham firm or an online firm that advertises to offer speedy conveyancing?
Visit your Thatcham high street. Go in to two or three solicitor’s offices and ask to see a conveyancing solicitor for an estimate. Discuss your needs and try and obtain a commitment on time frames. Choose the firm that appears most genuine. Make sure to select a conveyancing practitioner on the list of conveyancing practitioners approved by your bank.