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Find a Wednesbury Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Wednesbury? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Wednesbury home move at risk of delay or failure.

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Recently asked questions about conveyancing in Wednesbury

About to place an offer on a leasehold property in Wednesbury. The property agents advise that it is normal for flats in Wednesbury to have less than 75 years unexpired on the lease. I am getting a mortgage with Platform. Is this going to be acceptable if the lease has 72 years unexpired.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 19/2/2024 the requirements read as follows :

Minimum 85 years unexpired from completion, except where the mortgage application is pursuant to Platform's participation in the Government's Help to Buy Shared Equity scheme, in which case (a) the unexpired lease term must not be less than 250 years for new-build houses and not less than 125 years for new-build flats and (b) ground rent must be reasonable at all times and any escalation must be linked to RPI (Retail Price Index) or a similar index.

This question may be naive but I am unseasoned as FTB of a two bedroom flat in Wednesbury. Do I collect the keys to the property on completion from my solicitor? If so, I will find a High Street conveyancing solicitor in Wednesbury?

There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you should be called to pick up the keys from the property Agents and start moving into the property. This tends to happen early afternoon.

I have been told by my conveyancer that absentee landlord insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Wednesbury?

The right level of absentee landlord indemnity insurance should be dictated by who who your lender is. It would differ for example between Yorkshire Building Society and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such insurances.

I had a mortgage agreed in principle with Co-operative. Wednesbury conveyancing solicitors are chosen. How long does it take for Co-operative to send the offer to the lawyer?

Some lenders take longer than others. Have Co-operative completed the survey? Have you informed Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.

It has been five months following my purchase conveyancing in Wednesbury completed. I have checked the Land Registry website which shows that I paid £175,000 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 property 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 Wednesbury benefiting from help to buy. The developers would not budge the amount so I negotiated 6k of extras instead. The sale representative advised me not to tell my lawyer about the 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 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.

In sourcing the internet for the term cheap conveyancing in Wednesbury it brings up numerous property lawyersin the area. With so much choice what is the best way to find the right conveyancing solicitor for me?

The ideal way of seeking a suitable conveyancer is through a personal testimonial, so ask colleagues and family who have bought a property in Wednesbury or a local estate agent or financial adviser. Fees for conveyancing in Wednesbury vary, so it's a good idea to secure a minimum of four costs illustrations from varying types of companies. Be sure to secure confirmation what costs in the quote includes.

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