Unfortunately I am unable to travel far from Tisbury. Is there a reason why all Tisbury property lawyers are not on all bank panels?
Mortgage Companies tend to restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such criteria being that the organisation is required to have at least two partners. In addition to restricting the structure of firm, some banks decided to restrict the number of practices they permit to represent them. It is worth noting that banks have no accountability for the accuracy of advice provided by any Tisbury conveyancing practitioner on their approved list. Mortgage fraud was the key driver in the reduction of conveyancing panels from 2008 even though there are conflicting views concerning whether solicitors sat at the center of that fraud. Statistics from HM Land Registry indicates that thousands of conveyancing firms only carry out less than three conveyances a year. Those advocating conveyancing panel culls ask why conveyancing firms should have any entitlement to remain on a lender panel when it is evident that conveyancing is not their speciality?
Do the Building Society Association intend to launch a search tool with a view to list solicitors on the Loughborough BS conveyancing panel for example in Tisbury?
Lexsure has not been advised of any intention on the part of the BSA to develop such a tool.
Have purchased a a detached house in Tisbury , how long should it take for the Land Registry to deal with the formalities evidencing the transfer to my name? My Tisbury conveyancing solicitor has been painfully slow, so I want to be sure that my ownership is registered.
There is nothing unique about conveyancing in Tisbury registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any interested parties. As of today in the region of 80% of submission are fully dealt with within two weeks but occasionally there can be protracted delays. Registration is effected after the buyer has moved in to the property so an expedited registration is not typically an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.
I'm purchasing a new build house in Tisbury with a loan from Barclays . The developers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not reveal to my conveyancer about this side-deal as it would adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in Tisbury I like with amenity areas and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in Tisbury for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.