Me and my partner are soon to exchange buying a house in Ringmer but as a consequence of damage from some water damage at the property I have managed to agree recompense from the vendor in the sum of £3k taking the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process but Bank of Ireland are not allowing this. Should they have been informed?
Your lawyer being on a Bank of Ireland approved list is required to disclose to Bank of Ireland of any variations to the sale price. If you were to refuse your conveyancer to disclose the price change to Bank of Ireland then they would have to discontinue acting for you. In addition, Bank of Ireland and you would have to appoint a new conveyancing practitioner for your conveyancing in Ringmer.
Can you explain why leasehold purchase conveyancing in Ringmer costs more?
The conveyancing charges on a leasehold property in Ringmer is frequently greater as compared to a freehold property. This is because there is an amount of extra work necessary in corresponding with the freeholder and managing agents to obtain information about whether the rent and maintenance fee have been paid and whether there are any significant expenditure in the near future on repairs or maintenance of the block.
My wife and I have recently appointed a conveyancing solicitor in Ringmer. I need to find out if they are accepted on the Bank of Scotland conveyancing panel. Can you help?
The first thing you should do is phone your solicitor and enquire whether they can act for the lender. Otherwise you should call Bank of Scotland who may be able to confirm.
A relative pointed out to me me that in purchasing a property in Ringmer there may be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
There are a number of properties in Ringmer which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Ringmer should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am expecting a AIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Ringmer solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Ringmer solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I was told three weeks ago that my mortgage has been agreed to by HSBC. Is it usual for HSBC to only issue the offer once my solicitor in Ringmer is approved on their conveyancing panel? HSBC have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
Builders have put forward a lawyer and I've received a quote from them. It's almost three hundred pounds cheaper than my preferred Ringmer solicitor. What's the catch?
Housebuilders often have panels of lawyers who expedite matters and who know the seller’s contract and conveyancing practitioner. As many developers offer an inducement to choose their approved conveyancing practitioner for this reason, any increased fees can be avoided and a developer won't put forward a conveyancing warehouse and run the risk of having the transaction delayed when they need an exchange within a tight deadline. A counter-argument for not agreeing to use the recommended conveyancer is that they may be hesitant to 'push' your interests for fear of alienating the housebuilder. If you worry that this may be the situation you should stick with your high street Ringmer conveyancer.