We are intending to buy a 1 bedroom apartment in Kineton with a mortgage. We have a Kineton solicitor, however the mortgage company advise she’s not on their "panel". It appears that we have no option but to appoint one of the mortgage company panel firms or keep our Kineton property lawyer as well as pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Kineton conveyancing lawyer to apply to be on the conveyancing panel.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Kineton. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 28/4/2024, the requirements read as follows :
My colleague suggested that where I am purchasing in Kineton I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Kineton conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Kineton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Kineton Education with maps and statistics, Local Amenities and other useful data concerning Kineton.
I am purchasing a new build house in Kineton with a mortgage from Godiva Mortgages Ltd. The sellers refused to move on the price so I negotiated 6k of additionals instead. The house builders rep told me not to tell my lawyer about this deal as it may impact my mortgage with Godiva Mortgages Ltd. Is this normal?.
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've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Kineton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Kineton are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kineton you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kineton may decide 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 premises.
I need to retain a conveyancing solicitor for residential conveyancing in Kineton. I have land on a site which seems to have the perfect answer If it is possible to get all the legals done via web that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?