My husband and I are purchasing an apartment in Morpeth. My lawyer is not listed on the lender approved panel. Can I still appoint my Morpeth conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
You have numerous choices open to you here
- Proceed with your chosen Morpeth solicitor but your mortgage company will undoubtedly retain a conveyancer on their approved list. The net result is additional charges and potential delay.
- Appoint a new conveyancer to act in the purchase, obviously checking they are on the mortgage company conveyancing panel.
- Appeal to your conveyancing practitioner to apply to join the bank panel
My husband and I are acquiring a brand new duplex in Morpeth and my solicitor is informing me that she is duty bound to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. 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 buying a right to buy a 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 lender'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 my first flat in Morpeth with a mortgage from Nationwide Building Society. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The estate agent advised me not disclose to my lawyer about this side-deal as it could jeopardize my mortgage with the bank. Should I keep quiet?.
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 issue on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Morpeth is where the house is located. What do you suggest?
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 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 Morpeth 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 property.
In my capacity as executor for the will of my grandmother I am disposing of a residence in Cardiff but live in Morpeth. My conveyancer (approximately 300 miles awayhas requested that I sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing lawyer in Morpeth to attest this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are Morpeth based