Unfortunately I am unable to travel far from Lunt. What is the rationale as to why all Lunt conveyancing practitioners aren't automatically on all lender panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in lenders culling a number of firms from their official list of approved property lawyers .
Will my conveyancing lawyers need to check that the building insurance when buying a house in Lunt. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 28/3/2024, the requirements read as follows :
I'm buying my first flat in Lunt with a mortgage from Alliance & Leicester . The sellers refused to budge the amount so I negotiated £7000 of additionals instead. The estate agent suggested that I not to tell my conveyancer about the extras as it would put at risk my loan with the lender. 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 opted to have a survey done on a property in Lunt in advance of retaining solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks will not grant a loan on this type of premises.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lunt. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lunt to see if the conveyancing will be more expensive.
I am looking into buying my first house which is in Lunt and I am already nervous. I couldn't find anything specific about Lunt. Conveyancing will be needed in due course but do you know about the Lunt area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Lunt. In the meantime here are some basic statistics that we found
What tools are available to search for a Lunt conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to twentymiles to attend the conveyancer.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location, in this case Lunt and you will see a number of lawyer located nearest Lunt. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.