At what point does exchange of contracts occur in domestic conveyancing in Stone Cross and do I need to attend the conveyancers office?

Where you are near to one of the conveyancing solicitors in Stone Cross you are invited in to sign contracts. However, the firms we work with offer a national conveyancing service and give as equally detailed and professional a job for you when communicating with you digitally. The executing of the property agreement is not when everything is set in stone. Signing on the dotted line simply enables the firm to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Stone Cross)to be in the office available at the end of the phone to exchange contracts.

we are a couple who decided to purchase a newbuild flat in Stone Cross with a mortgage from Clydesdale.We use our Stone Cross conveyancing practitioner but Clydesdale informed us she’s not listed on their approved list of firms. we are left little option but to use a Clydesdale panel firm or retain our high street solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Clydesdale use our lawyer?

Unfortunately,no. The home loan issued to you contains various provisions, a common one being that lawyers must be on the Clydesdale approved list. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Clydesdale

When it comes to mortgage companies such as TSB, do Stone Cross conveyancers have to pay an annual charge to be on the list of approved solicitors?

We are unaware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.

Is there a list of Clydesdale panel solicitors in Stone Cross on the Council of Mortgage Lender’s Website?

No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. Very few mortgage companies make their panel listings available online. If you are looking for a Stone Cross solicitor on the Clydesdale please make the most of our tool.

I have a mortgage with Nottingham for my property in Stone Cross. Conveyancing was finalised some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nottingham?

Nottingham must be informed of your intention in advance of renting your property as this is likely to be a breach of Nottingham’s mortgage conditions. It may be that Nottingham will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nottingham directly. It should not be necessary to do this via a Nottingham conveyancing panel solicitor.

I'm purchasing a new build house in Stone Cross with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of extras instead. The estate agent suggested that I not disclose to my conveyancer about the extras as it could 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.

I have been on the look out for a flat up to £305k and found one round the corner in Stone Cross I like with amenity areas and transport links nearby, however it only has 51 years unexpired on the lease. There is not much else in Stone Cross for this price, so just wondered if I would be making a grave error acquiring a short lease?

Should you need a mortgage that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.