I am purchasing residence in Morpeth. My Solicitor has never been on on the lender conveyancing panel. Am I still permitted to continue with my Morpeth conveyancing solicitor notwithstanding that they are excluded from the lender approved list?
You have a number of choices available to you here
- Carry on with your existing Morpeth lawyer but your mortgage company will no doubt retain a conveyancing practitioner on their approved list. This will result in additional cost and potential interruption.
- Get a new solicitor to act in the purchase, making sure they are on the lender conveyancing panel.
- Convince your conveyancer to attempt to join the lender panel
We are buying a newly built flat in Morpeth and my solicitor is informing me that she has to the lender to disclose incentives from the seller. I am under pressure to sign contracts and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing a new build flat in Morpeth. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Morpeth you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Morpeth.
I'm buying a new build house in Morpeth benefiting from help to buy. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not inform my lawyer about this deal as it will impact my loan with Chelsea Building Society. 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.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Morpeth is where the house is located. Is there any advice you can impart?
Flying freeholds in Morpeth are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Morpeth you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Morpeth may determine 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.
As co-executor for the estate of my uncle I am disposing of a residence in Monmouth but live in Morpeth. My lawyer (who is 250 miles from mehas requested that I execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Morpeth who can attest this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are based in Morpeth