I am hoping to receive a offer of a home loan from Nat West. I would like to use a Licensed Conveyancer in Bangor. Does the Nat West Conveyancing panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
In the event thatI was to buy a straightforward housein Bangor mortgage fee and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Bangor?
The only saving you would make on is the costs for searches. A conveyancer is required to do the vast majority of work - money laundering, liaising with your vendors property lawyer, SDLT submission, register the title etc. A slight saving might be made by not having to register a mortgage however it will not be meaningful.
Will my lawyer be raising enquiries about flooding as part of the conveyancing in Bangor.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Bangor. There are those who buy a property in Bangor, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Bangor. The standard completed inquiry forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to determine whether the premises has suffered from flooding. If the residence has been flooded in past which is not revealed by the owner, then a buyer may bring a compensation claim as a result of such an misleading answer. A purchaser’s solicitors will also order an environmental report. This should higlight whether there is any known flood risk. If so, further investigations will need to be carried out.
I used Wolstenholmes several years past for my conveyancing in Bangor. I now require my papers however the law firm has closed. What do I do?
You should 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 Bangor of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Bangor with a loan from Barclays . The developers refused to reduce the amount so I negotiated 6k of additionals instead. The property agent told me not disclose to my solicitor about this extras as it will impact my mortgage with the bank. Do I keep my lawyer in the dark?.
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.
I have today placed an offer on a leasehold flat in Bangor and the mortgage adviser that we are dealing with suggested his solicitor. He quoted £800 excluding VAT and 3rd party costs. Does this sound reasonable?
Don't just go on one estimate. One should obtain like-for-like quotes for your conveyancing in Bangor. Then pick one that you are comfortable with and just as important, is on the approved panel of the lender that you are sourcing your mortgage from.