Our conveyancer has uncovered a defect with the lease for the apartment we are purchasing in Helsby. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must be satisfied that the mortgage company is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
My wife and I have recently appointed a conveyancing solicitor in Helsby. I need to find out whether they are on the Bank of Scotland conveyancing panel. Could you help?
You should phone your solicitor and enquire whether they are on the lender panel. Alternatively please get in touch with Bank of Scotland who may be able to confirm.
A friend recommended that if I am buying in Helsby I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Helsby conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Helsby around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Helsby Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Helsby Education with plans and statistics, Local Amenities and other useful information about Helsby.
I'm purchasing a new build house in Helsby with a loan from Nottingham Building Society. The sellers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not inform my solicitor about the deal as it may adversely affect my loan with the lender. Should I keep quiet?.
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.
My husband and I are first time buyers - agreed a price, but the estate agent told us that the owners will only proceed if we appoint their recommended conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a family conveyancer with experience of conveyancing in Helsby
We suspect that the owner is unaware of this demand. Should the seller desire ‘a quick sale', turning down a motivated buyer is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are serious purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you will continue to use your preferred Helsby conveyancing solicitors - not the ones that will give their estate agent a commission or hit his conveyancing thresholds set by senior management.
I have read on numerous online forums that when choosing a conveyancing solicitors they need approved by your lender. It happens to be my first home move but I have an offer in principle from HSBC and I already have a bricks and morter conveyancing lawyer in Helsby in place. Can Santander need an approved lawyer to be instructed? If so, where do I find that list so I can appoint a conveyancing solicitor in Helsby?
You should use a solicitor that is on the Santander panel. Just telephone your preferred Helsby conveyancing lawyer to check if they are on the Santander panel. If they are not approved you have a number of options available to you here:
- Complete the purchase with your preferred Helsby conveyancer but Santander will need to instruct a property lawyer on their approved panel. This will result in additional fees and potential interruption.
- Choose a fresh property lawyer to act in the purchase, making sure they are on the Santander conveyancing panel.
- Convince your property lawyer to do everything within their powers to get listed on the Santander conveyancing panel.