I am in the throes of switching my existing standard home loan to a BTL Coventry Building Society mortgage. I was told by my mortgage that I need a lawyer as part of the process. I spoke to my previous Frizington conveyancing firm who acted on my behalf when I previously bought the premises. The fee calculation e-mailed to me of £470 has taken me by surprise as its a refinance than a sale or purchase.
The estimate fees appear a bit high. If you shop around you could get the conveyancing a bit cheaper by say £125. That being said, assuming were satisfied with the assistance the firm gave you couldcome to rue choosing an an untested solicitor. Don't forget to be sure that the firm can represent Coventry Building Society. You can use our search tool to locate a Frizington conveyancing firm on the Coventry Building Society approved list of lawyers, which can often include conveyancing solicitors in Frizington.
We are a couple about to exchange contracts for a garden flat in Frizington. We have hit a problem. The mortgage offer with Godiva Mortgages Ltd expires on 15/3/2021 but the vendors are putting forward a completion date of 17/3/2021. Can one prolong the mortgage expiry date?
The person best placed to deal with your issue is your conveyancer who is in a position to assess whether he or she is corresponding with the lender, vendor’s solicitors, selling agents or conceivably all parties given the history of your conveyancing as of today.
Do lenders provide you with an approved list of Frizington conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Frizington conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
The Frizington conveyancing lawyers that I appointed last week on my purchase in Frizington have without warning shut down. I chose them because I had to have a lawyer on the Co-operative conveyancing panel and my previous Frizington lawyer was not. I paid them money in advance. What should be my next steps?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Two weeks ago we had a mortgage agreed in principle with TSB. Frizington conveyancing practitioners are chosen. What is the average time that one could expect to receive a mortgage offer from TSB?
There is no definitive answer here. Have TSB completed the valuation? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
We were going to get a AIP from RBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Frizington solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Frizington solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I have paid off my mortgage with Virgin Money. I assume I don't need a Frizington lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I'm purchasing my first flat in Frizington benefiting from help to buy. The developers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not inform my conveyancer about the side-deal as it would adversely affect my mortgage with the lender. Should I keep quiet?.
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.