My wife and I are planning to buy a 1 bedroom apartment in Chinnor with a mortgage. We have a Chinnor lawyer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel firms or keep our Chinnor property lawyer and pay for one of their panel ones to act for them. We feel that this is unjust; are we not able to require that the mortgage company use our Chinnor solicitor ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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 Chinnor conveyancing solicitor to apply to be on the conveyancing panel.
Would the conveyancing solicitors identified via your search tool conduct attended exchange conveyancing in Chinnor?
We do have a number of conveyancing specialists carrying out attended exchanges. You should call us to secure a fee calculation and details as to dates.
A friend suggested that where I am purchasing in Chinnor I should 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 Chinnor conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Chinnor around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Chinnor Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data about Chinnor.
I'm buying a new build house in Chinnor with the aid of help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not reveal to my conveyancer about this extras as it will adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
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've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Chinnor is where the house is located. Is there any guidance you can give?
Flying freeholds in Chinnor are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chinnor you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chinnor may decide 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.
Finally our conveyancing in Chinnor is completing next Friday, however the owners I am buying off has asked to vacate on the Saturday PM. Do I accept such a idea?
If you are having a bank loan then your solicitor will insist that the property isvacant on Friday - the lender will demand it.