My lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Cheetham Hill. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the lender is content with this solution. Are we the client or is the bank?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. The appropriate lender specifications have to be complied with.
We're in Cheetham Hill, First timers purchasing with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am purchasing a new build house in Cheetham Hill benefiting from help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not disclose to my conveyancer about this extras as it will impact my mortgage with the 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 advice of my in-laws I had a survey completed on a house in Cheetham Hill ahead of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may refuse to issue a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cheetham Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cheetham Hill to see if the conveyancing costs will increase in light of this.
We're new on the property ladder - had an offer accepted, yet the property agent told us that the seller will only go ahead if we appoint the agent's recommended conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Cheetham Hill
We suspect that the seller is unaware of this demand. Should the vendor desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you will continue to use your own,trusted Cheetham Hill conveyancing solicitors - not the ones that will provide the estate agent a commission or meet his conveyancing figures pre-set by corporate headquarters.
I am searching for Cheetham Hill online conveyancing estimates. Can I be assured that all the Cheetham Hill practices that are listed on your site are on the mortgage company conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Cheetham Hill conveyancing solicitor being on the mortgage company conveyancing panel is incorrect.