It has come to my attention via my mortgage broker that my Lynmouth property lawyer is not on the lender Solicitor panel. What can I do to be sure that this is correct?
Your first step should be to contact your Lynmouth lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they may be able to suggest a Lynmouth conveyancing firm that is on the conveyancing panel for your bank.
I am getting closer to an exchange on a house in Lynmouth and my parents have transferred the ten percent deposit to my conveyancer. I am now told that as the deposit has been received from someone other than me my lawyer needs to disclose this to my bank. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancing practitioner is legally required to check with lender to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We note that you have a post code search directory identifying law firms on the Leeds Building Society conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Lynmouth?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lynmouth.
Will my lawyer be raising questions concerning flooding during the conveyancing in Lynmouth.
Flooding is a growing risk for solicitors specialising in conveyancing in Lynmouth. Some people will buy a house in Lynmouth, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous searches that may be initiated by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Lynmouth. The conventional set of property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to discover if the property has historically flooded. If the premises has been flooded in past and is not disclosed by the seller, then a purchaser may commence a compensation claim resulting from an misleading response. A purchaser’s lawyers will also commission an environmental search. This will reveal whether there is any known flood risk. If so, additional investigations should be made.
I am buying a new build house in Lynmouth benefiting from help to buy. The sellers would not budge the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not reveal to my solicitor about this deal as it could adversely affect my loan with the lender. Is this normal?.
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.
As co-executor for the estate of my uncle I am selling a house in Monmouth but reside in Lynmouth. My lawyer (who is 260 kilometers from meneeds me to sign a stat dec ahead of the transaction finalising. Could you suggest a conveyancing solicitor in Lynmouth who can witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are based in Lynmouth