Me and my partner are purchasing a 2 bedroom apartment in Marple with a mortgage. We like our Marple solicitor, but the lender advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Marple solicitor and pay for one of their panel ones to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Marple conveyancing solicitor to apply to be on the conveyancing panel.
Completed the sale of my flat in Marple last June yet the purchaser is Skype messaging me complaining that her solicitor is waiting to hear from myconveyancer. What are the post completion sale legalities following completion?
Post completion of your house sale your conveyancer should deliver the transfer deeds and all supplemental paperwork to the buyer’s solicitors. Depending on the transaction, your conveyancer must also confirm that the legal charge in favour of the lender has been redeemed to the purchasers lawyers. There is unlikely to be post completion requirements unique to conveyancing in Marple.
What is the difference between a licensed conveyancer and conveyancing solicitor in Marple
Two types of professional can execute conveyancing in Marple namely licenced conveyancers or solicitors. Both professionals provide conveyancing services that you need to complete the sale or acquisition of property. Both are obliged to handle Marple conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally administered and that all requirements and procedures should be correctly adhered to.
I recently had an offer agreed on a house in Marple. My mortgage broker recommended their conveyancers. I paid an advanced payment of £175. A few days later, the lawyer contacted me sheepishly admitting that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told three weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Marple is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm purchasing my first flat in Marple with a loan from Lloyds TSB Bank. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent advised me not to tell my conveyancer about this side-deal as it will put at risk my loan with Lloyds TSB Bank. Is this normal?.
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.
Over the last few months I have been searching for a flat up to £195,000 and identified one round the corner in Marple I like with open areas and railway links in the vicinity, however it's only got 52 years on the lease. There is not much else in Marple for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage that many years will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I need to instruct a conveyancing solicitor for some conveyancing in Marple. I've stumble across a web site which seems to have the ideal offering If it is possible to get all the legals completed via phone that would be ideal. Should I 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?