We instructed a The Park based solicitor for my conveyancing in The Park last week. Upon checking the Terms and Conditions I notewe are on the hook for costs even if the movefalls through. Would I be best advised to instruct an internet conveyancing brokerage promising no-sale-no-fee conveyancing in The Park?
It is usually a trade off in that if "No Sale No Fee" is available then the fee levels will tend to be be higher to neutralise those transactions that do not proceed. Do bear in mind that such arrangements generally do not cover outlay by way of example The Park conveyancing search costs.
My wife and I are due to exchange buying a property in The Park but as a result of wreckage from some water damage at the property I have was able negotiate recompense from the vendor in the sum of three thousand pounds taking the form of a adjustment in the price. This was going to be dealt with as part of amending the contract but HSBC will not permit this. Why were they informed?
The lawyer being on a HSBC conveyancing panel is required to inform HSBC of any changes to the sale price. If you prohibit your conveyancing practitioner to disclose the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new solicitor for your conveyancing in The Park.
Is it the case that all The Park conveyancing solicitors on the Kent Reliance conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be overseen by the SRA. Many banks do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I recently had an offer accepted on an apartment in The Park. My mortgage broker suggested a conveyancing practitioner. I paid an on account payment of £200. A few days later, the lawyer called me sheepishly admitting that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nottingham are being problematic. The The Park solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been 3 months since my purchase conveyancing in The Park concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in The Park with a loan from Nationwide Building Society. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about this side-deal as it may adversely affect my loan with Nationwide Building Society. Do I keep my lawyer in the dark?.
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.