My wife and I are looking to acquire a home in Aintree and have appointed a Aintree conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Halifax have this afternoon contacted us to advise us that they have now hit a problem as our Aintree lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Aintree lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Having sold my house in Aintree last May but my buyer keeps whats apping every few hours to say his solicitor needs to hear from mysolicitor. What are the post completion sale formalities following completion?
Following your disposal your conveyancer is obliged to deliver the transfer deeds and all additional paperwork to the buyer’s solicitors. If applicable, your conveyancer must also confirm that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There are no post completion procedures peculiar conveyancing in Aintree.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather appoint a Aintree based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers if you take up the "fee-free" incentive. Contact the mortgage company and ask if they make available a monetary alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Aintree.
I'm buying my first flat in Aintree benefiting from help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not reveal to my lawyer about this deal as it would affect 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.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one near me in Aintree I like with open areas and transport links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Aintree for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
Is it the case that all Aintree law firms on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your local lender branch in Aintree. the probability is that they will know some good conveyancing solicitors in Aintree