My husband and I are looking to purchase a property in Groby and are in fact using a Groby conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Nationwide Building Society have this morning contacted us to inform me that they have now hit a problem as our Groby solicitor is not on their conveyancing panel. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. 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 mortgage company 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Groby solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
What is the optimum way to discover of the solicitor carrying out my conveyancing in Groby is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Platform Home Loans Ltd thus paying £187.00 plus VAT in another set of conveyancing invoice.
Feel free to make the most of the find a conveyancing panel solicitor tool on this site. Pick the lender and type ‘Groby’ or your preferred area and you will see a number of lawyer offices in Groby or near you.
I am buying my first flat in Groby with a mortgage from Halifax. The sellers refused to reduce the amount so I negotiated 6k of additionals instead. The estate agent told me not reveal to my conveyancer about this extras as it may put at risk 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 am looking for a flat up to £235,500 and found one round the corner in Groby I like with amenity areas and transport links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Groby for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan that many years may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I am looking into buying my first house which is in Groby and I am already nervous. I couldn't find anything specific about Groby. Conveyancing will be needed in due course but do you know about the Groby area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Groby. In the meantime here are some basic statistics that we found
My mother purchased her house in Groby in 2006. She has been married, widowed and in recent months got married again. She wishes to sell the house next moths. I believe she will just be need to provide a copy of her marriage certificates to the conveyancing practitioner however she is concerned it could frustrate the house sale. Should she instruct a solicitor to update the Land Registry information for the property?
You are not required to bring up to date the title for the property as long as you have the evidence needed to demonstrate how the change of name occurred.
Any purchaser’s conveyancer will review the registered details and ask for evidence to establish the name change for instance marriage documentation.