My husband and I are nearing an exchange on a house in Crosby and my parents have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
Your conveyancer is obliged to check with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Can I use your services to locate a Conveyancing solicitor in Crosby even where I’m not buying or disposing of a house, for example if I want to acquire a shop in Crosby with a loan from Norwich and Peterborough Building Society?
Our comparison service is primarily used to find residential conveyancing solicitors in Crosby but we have recorded towards the end of this page a few Crosby commercial conveyancing firms. You will need to enquire with the solicitors directly to see if they are also authorised to represent Norwich and Peterborough Building Society
Is it the case that all Crosby CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
We are getting the release of further funds on our home loan from Nottingham as we want to conduct a loft conversion to our home in Crosby. Do we need to choose a bricks and mortar Crosby solicitor on the Nottingham conveyancing panel to deal with the paperwork?
Nottingham do not ordinarily require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham list.
I have instructed a Crosby lawyer having checked that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Crosby postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in Crosby.
I require quick conveyancing in Crosby as I am faced with a deadline to complete in less than 3 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are are a mortgage free buyer you have the choice not to have searches carried out although no solicitor would recommend that you don't. With plenty of history conveyancing in Crosby the following are examples of issues that can arise and adversely impact market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
I'm buying a new build house in Crosby with the aid of help to buy. The developers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not inform my lawyer about this deal as it will affect my loan 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 opted to have a survey completed on a property in Crosby ahead of retaining lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some banks may not issue a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you contact us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Crosby. Conveyancing may be slightly more expensive based on your lender's requirements.