It has come to my attention via my mortgage broker that my East Dulwich lawyer is not on the mortgage company Solicitor panel. How can I be certain that this is indeed the case?
The first thing you need to do is to contact your East Dulwich conveyancer. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
My partner and I are purchasing a brand new flat in East Dulwich and my lawyer is telling me that she is duty bound to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to exchange and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I have just over seventy years unexpired on my lease and require a lease extension for my apartment in East Dulwich. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 13/4/2024 the requirements read as follows :
What will a local search reveal concerning the house I am purchasing in East Dulwich?
East Dulwich conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company such as PSG The local search plays an important part in most East Dulwich conveyancing purchase; that is if you don’t want any nasty once you have moved into your new home. The search will supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I am buying a new build house in East Dulwich with a mortgage from Leeds Building Society. The builders would not move on the amount so I negotiated 6k of extras instead. The estate agent advised me not reveal to my conveyancer about this deal as it may jeopardize my loan with the bank. Is this normal?.
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 need to change lawyers as my East Dulwich lawyer is not on the mortgage company's approved list of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a conveyancer to commence the conveyancing and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in East Dulwich that you're thinking of instructing.