My fiance and I are looking to purchase a property in Dunston and are in fact using a Dunston conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Chelsea Building Society have this afternoon contacted us to advise us that there is now an issue as our Dunston lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Dunston solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I require expedited conveyancing in Dunston as I am under pressure to complete within 3 weeks. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you are at liberty not to do searches although no conveyancer would advise that you don't. Drawing on years of experience of conveyancing in Dunston the following are examples of issues that can be revealed and therefore affect market value: Enforcement Actions, Overdue Charges, Overdue Grants, Road Schemes,...
I purchased a renovated Edwardian house in Dunston. Conveyancing practitioner acted for me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dunston and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the conveyancing.
I'm buying my first flat in Dunston benefiting from help to buy. The developers would not reduce the price so I negotiated £7000 of additionals instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it may adversely affect my mortgage with the lender. 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.
Due to the guidance of my in-laws I had a survey completed on a house in Dunston in advance of instructing conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor advised that some banks tend refuse to issue a mortgage on this type of house.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to telephone us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Dunston. Conveyancing will be smoother if you use a solicitor in Dunston especially if they are accustomed to such properties in Dunston.
I am using a search engine for the term on line conveyancing in Dunston it shows results of many solicitorsin the vicinity. How do I determine which is the right conveyancing solicitor for the sale of my house?
The best way of choosing the right conveyancer is through a trusted referral, so enquire of colleagues and those you trust who have bought a property in Dunston or a reputable estate agent or mortgage broker. Charges for conveyancing in Dunston vary, so it's sensible to obtain at least three fee estimates from different law firms. Be sure to seek confirmation that the fees are fixed.