My husband and I are buying a 2 bedroom apartment in Andover with a mortgage. We have a Andover solicitor, but the mortgage company says she’s not on their "panel". It seems we have no option but to appoint one of the bank panel firms or continue with our Andover conveyancer and pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders 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. Another option that might be available is for your Andover conveyancing solicitor to apply to be on the conveyancing panel.
How up to date is your search tool for Andover conveyancing solicitors on the Nationwide conveyancing panel? Do Nationwide send you an updated list?
Andover conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
I'm purchasing a new build house in Andover with the aid of help to buy. The builders would not move on the amount so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not inform my conveyancer about the deal as it may affect my loan with the bank. Should I keep quiet?.
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 have been on the look out for a leasehold apartment up to £245,000 and identified one close by in Andover I like with amenity areas and transport links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Andover for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years may be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
My uncle has recommend that I appoint his conveyancing solicitors in Andover. Should I use them?
There are no two ways about it the best way to find a conveyancing practitioner is to have guidance from friends or relatives who have previously instructed the solicitor you're considering.
One month into a sale of a flat in Andover. Conveyancing lawyers are doing their job but we are being charged a fortune from the landlord. So far we have paid £295.50 for a leasehold management information and then a further £118 for additional questions supplied by the buyers conveyancer.
You will not have control over the extent of the charges for this information however the typical fee for the information for Andover leasehold premises is £380. For Andover conveyancing sales it is standard for the vendor to cover the costs. The freeholder or their agents are not duty bound to address such questions most will be willing to do so - albeit often at exorbitant prices disproportionate to the work involved. Regretfully there is no legislation that mandates fixed charges for administrative tasks. Nor is there any statutory time limit by which they are duty bound to supply answers.