we are a couple who decided to purchase a 3 bedroom apartment in Bakewell with a loan from Britannia.We use our Bakewell conveyancing practitioner but Britannia advised that her practice is not listed on their "panel". We have to appoint a Britannia panel solicitor or keep our local solicitor and pay for a Britannia panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Britannia use our lawyer?
No, not really. The home loan offered to you is subject to its various provisions, a common one being that lawyers needs to be on the Britannia approved list. Until recently, 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 Britannia
What is the difference between a licensed conveyancer and conveyancing solicitor in Bakewell
There are many recorded licenced Conveyancers in Bakewell and Solicitor practices in Bakewell offering conveyancing It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. They may both also deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I am helping my sister sell her property in Bakewell. Will the solicitor order an energy performance certificate or it is for the seller to see to?
After the demise of Home Information Packs, energy performance certificates became a compulsory element of moving house. An energy assessment should be commissioned in advance of the property being placed on the market. It is not a task that lawyers normally arrange. If you are instructing a Bakewell conveyancing practitioner they might be willing to arrange energy assessments due to their contacts with long established Bakewell accredited person
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Bakewell bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Bakewell conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend based on their specific requirements. I simply don't know who is right.
Your solicitor must follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
It has been 2 months since my purchase conveyancing in Bakewell concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Bakewell with a mortgage from Skipton Building Society. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not disclose to my lawyer about the deal as it will adversely affect my mortgage with the bank. 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Bakewell is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bakewell are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bakewell you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bakewell may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Do I stop the direct debit for my mortgage with Bank of Ireland once a completion date for my sale in Bakewell has been agreed?
No, you must keep meeting any mortgage sums to Bank of Ireland pending the mortgage being discharged on completion as part of your Bakewell conveyancing.