Me and my partner are about to exchange on the purchase of a property in Bakewell but as a result of wreckage from a small fire at the property I have managed to agree reparation from the vendor of £3k in the form of a adjustment in the price. This was going to be addressed as part of amending the contract but Clydesdale are not allowing this. Why were they notified?
Any conveyancing practitioner being on a Clydesdale approved list is duty bound to advise Clydesdale of any variations to the purchase price. If you were to refuse your property lawyer to notify the reduction to Clydesdale then they would have to discontinue acting for you. In addition, Clydesdale and you would have to appoint a new lawyer for your conveyancing in Bakewell.
We note that you have a search directory identifying firms on the HSBC conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Bakewell?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bakewell.
we are a couple who are purchasing a newbuild apartment in Bakewell with a homeloan from Britannia.We use our Bakewell conveyancing solicitor but Britannia advised that his firm is not listed on their approved list of member firms. We have to appoint a Britannia panel firm or retain our preferred solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you is subject to its various provisions, a common one being that lawyers must be on the Britannia approved list. in the past, most lenders had large numbers of solicitors 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
I purchased a renovated Georgian property in Bakewell. Conveyancing solicitor represented me and Bank of Scotland. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold under the exact same address. I thought I was buying a freehold how can I check?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bakewell and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing solicitor who carried out the work.
I am buying a new build house in Bakewell benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not reveal to my solicitor about this side-deal as it may jeopardize my loan with National Westminster 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Bakewell ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks will refuse to give a loan on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bakewell. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bakewell to see if the conveyancing costs will increase in light of this.