We are buying a newbuild flat in Moulton with a mortgage from Halifax.We like our Moulton conveyancing practitioner but Halifax says his firm is not listed on their approved list of firms. It seems we have no choice but to instruct a Halifax panel firm or retain our high street solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Halifax use our lawyer?
No, not really. The loan offered to you contains various provisions, a common one being that lawyers must be on the Halifax approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Halifax
Should my solicitor be raising questions about flooding as part of the conveyancing in Moulton.
Flooding is a growing risk for solicitors dealing with homes in Moulton. There are those who buy a property in Moulton, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, but there are a numerous searches that can be initiated by the purchaser or on a buyer’s behalf which should give them a better appreciation of the risks in Moulton. The conventional set of property information forms given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the seller to discover whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the owner, then a buyer may issue a legal claim for losses resulting from an inaccurate reply. The buyer’s conveyancers should also commission an environmental report. This will disclose whether there is any known flood risk. If so, more detailed inquiries should be made.
I am buying a new build house in Moulton with a loan from Birmingham Midshires. The sellers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not disclose to my lawyer about the extras as it could jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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 decided to have a survey completed on a house in Moulton before retaining solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will not give a loan on this type of home.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Moulton. Conveyancing may be slightly more expensive based on your lender's requirements.
What makes your site different to alternative online quote calculators for conveyancing in Moulton?
At this site get a fixed fee quote via a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Moulton. Unlike many estate agents and many comparison sites we do not have commission deals with solicitors. Many agents and online brokers 'recommend' solicitors that pays the most kickback, rather than the best value conveyancing in Moulton
I see that you have a post code search directory identifying firms on the lender conveyancing panel. Do Moulton conveyancing companies pay you a referral fee if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Moulton.