My fiance and I are purchasing a newly converted flat in Audley with a loan from Platform Home Loans Ltd.We like our Audley conveyancing lawyer but Platform Home Loans Ltd says he's not listed on their "panel". We have to appoint a Platform Home Loans Ltd panel firm or retain our local solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Platform Home Loans Ltd use our lawyer?
No, not really. The home loan offered to you contains various provisions, a common one being that conveyancers will be on the Platform Home Loans Ltd solicitor panel. in the past, most banks 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 lawyer to apply to be on the conveyancing panel for Platform Home Loans Ltd
My colleague advised me that if I am buying in Audley I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Audley conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Audley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Audley Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data regarding Audley.
I used Arc property Solicitors several years past for my conveyancing in Audley. Now, I need my documents but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Audley of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing a new build house in Audley with a loan from National Westminster Bank. The builders would not reduce the amount so I negotiated £7000 of additionals instead. The property agent advised me not disclose to my solicitor about this side-deal as it may adversely affect my mortgage 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 carried out on a house in Audley prior to retaining lawyers. I have been told that there is a flying freehold element to the house. The surveyor has said that some mortgage companies tend not give a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Audley. Conveyancing will be smoother if you use a solicitor in Audley especially if they regularly deal with such properties in Audley.
My husband and I are first time buyers - agreed a price, but the agent advised that the vendor will only issue a contract if we instruct the agent's preferred conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local solicitor used to conveyancing in Audley
We suspect that the owner is unaware of this demand. Should the seller desire ‘a quick sale', turning down a serious buyer is going to damage their objectives. Speak to the vendors direct and make the point that (a)you are motivated buyers (b)you are ready to go, with finances arranged © you are chain free (d) you intend to proceed fast (e)however you will continue to use your preferred Audley conveyancing solicitors - as opposed tothe ones that will provide the estate agent a referral fee or meet his conveyancing thresholds set by corporate headquarters.