My wife and I are intent on acquiring a maisonette in Highbridge. My lawyer has never been on on the mortgage company conveyancing list. Can I still use my Highbridge conveyancing solicitor even though they are not on the lender list of approved lawyers?
Various options include
- Proceed with your preferred Highbridge conveyancer but your lender will undoubtedly appoint a property lawyer on their approved list. This will result in additional cost and potential delay.
- Choose a fresh conveyancing practitioner to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Appeal to your conveyancer to attempt to join the mortgage company panel
My god-son is in the process of securing a newly built flat in Highbridge with a mortgage from Aldermore. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Aldermore conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Aldermore conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
How up to date is your database of Highbridge solicitors on the Lloyds conveyancing panel? Do Lloyds send you an updated list?
Highbridge conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
This question may be naive but I am wet behind the ears as FTB of a garden flat in Highbridge. Do I receive the keys to the premises on the completion date from my conveyancer? If so, I will appoint a local conveyancing solicitor in Highbridge?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the owner’s lawyers, and shortly after the monies have arrived, you will be invited to collect the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
My stepmother advised me that in buying a property in Highbridge there could be a number of restrictions prohibiting external changes to a property. Is this right?
We are aware of a number of properties in Highbridge which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Highbridge should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We previously selected solicitors locally in Highbridge on the UBS solicitor panel. They have just invoiced me a separate charge for the legal aspects of the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer is entitled to charge a fee for this. This fee is not set by UBS but by your Highbridge property lawyer. Plenty of firms on the UBS panel will charge ’dealing with mortgage’ fee and others do not.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Highbridge is the location of the property. What do you suggest?
Flying freeholds in Highbridge are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Highbridge you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Highbridge may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We are expecting to exchange on the purchase a house in Highbridge but as a result of wreckage from the recent storms I have negotiated reparation from the seller of £3k taking the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process yet my mortgage company will not agree to this. Should they have been notified?
Any solicitor that is on the bank conveyancing panel is obliged to inform the mortgage company of any changes to the sale figure. In the event that you prohibit your property lawyer to disclose the reduction to your bank then they would have to disinstructing themselves from acting for you and the lender.