I can't travel far from Haxby. What is the rationale as to why all Haxby solicitors are not on all mortgage company panels?
Pre- 2008 most mortgage companies displayed an attitude to risk which is different than today. The Financial Services Authority in 2010 instigated a thematic review into property fraud which concluded: know the solicitors on your panel. As a result, banks have subsequently requiredmore information from law firms about their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum amount of transactions the mortgage companies set.
My lawyer has uncovered a a legal deficiency with the lease for the flat we are buying in Haxby. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. The appropriate lender specifications must be adhered to.
I am close to exchanging contracts on the sale of our home in Haxby and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any high street Haxby lawyer would know that there is no such problem. It does beg the question why the purchasers are using an online conveyancing outfit as opposed to a conveyancing solicitor in Haxby. Having lived in Haxby for six years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Me and my brother have a terraced Edwardian house in Haxby. Conveyancing solicitor acted for me and Godiva Mortgages Ltd. 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 under the matching property. Is it worth asking Godiva Mortgages Ltd to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Haxby and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing practitioner who conducted the conveyancing.
I'm buying a new build house in Haxby with the aid of help to buy. The builders would not move on the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not disclose to my solicitor about this extras as it may jeopardize my loan with Skipton Building Society. 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.
I decided to have a survey done on a house in Haxby before instructing conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may refuse to grant a loan on such a home.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Haxby. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Haxby to see if the conveyancing will be more expensive.