My wife and I are buying a 1 bedroom flat in New Romney with a mortgage. We like our New Romney lawyer, however the mortgage company says he's not on their "panel". It appears that we have little option but to instruct one of the mortgage company panel conveyancing practices or retain our New Romney conveyancer and pay for one of their panel lawyers to act for them. We feel that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer 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. Another option that might be available is for your New Romney conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are acquiring a newly built apartment in New Romney and my solicitor is advising me that she has to the bank to disclose incentives from the builder. The Estate Agents are hassling me to exchange contracts and I would rather not delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My mortgage company has recommended solicitors on their panel based in New Romney but I would rather choose a conveyancing lawyer in New Romney or nearer to where I live. Can you help?
Far from all New Romney conveyancing practitioners are approved and listed on all lender’s conveyancing panel. Do make use of the above search tool to find a New Romney conveyancing conveyancer on the on the lender panel.
I'm purchasing my first flat in New Romney with a loan from Clydesdale. The builders would not budge the amount so I negotiated 6k of additionals instead. The sale representative told me not reveal to my conveyancer about this deal as it could put at risk my mortgage with Clydesdale. 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.
What does commercial conveyancing in New Romney cover?
Non domestic conveyancing in New Romney covers a wide range of guidance, provided by regulated solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Are you able to clarify what options are open to me where my New Romney conveyancing searches shows adverse entries?
On the whole, almost all adverse entries arising from New Romney conveyancing search results can be addressed in advance of completion or indemnity insurance can be put on cover. It is important to note that even though you may be buying the premises and might be willing to accept the search results, your mortgage lender may not, and when all said and done have the final decision.