I am in the process of selling my ground floor flat in Ross On Wye and the estate agent has just e-mailed to advise that the purchasers are changing their property lawyer. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their approved list. Why would a leading mortgage company only work with specific solicitors rather the firm that they want to select for their conveyancing in Ross On Wye ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
I'm buying a new build house in Ross On Wye with a loan from Platform Home Loans Ltd. The sellers refused to move on the price so I negotiated 6k of extras instead. The property agent suggested that I not to tell my conveyancer about the side-deal as it would impact my loan with the bank. Should I keep quiet?.
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 opted to have a survey carried out on a property in Ross On Wye in advance of instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend not grant a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ross On Wye. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ross On Wye to see if the conveyancing costs will increase in light of this.
I am a sole trader wishing to take an assignment of a lease of an office on the high street. Can you recommend conveyancers offering no-sale-no fees for non-domestic conveyancing in Ross On Wye for under £1,200?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Ross On Wye, including the disposal and purchase of businesses as well as simply premises. If you are intending to purchase or sell a shop, pub, restaurant, office, retail unit or a complete business we will find you the right firm. As for the charges this will depend on the structure and heads of terms of the deal. Please provide us with your details or phone so as to enable us to furnish you with comprehensive commercial conveyancing calculation.
Can you offer any advice when it comes to choosing a Ross On Wye conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Ross On Wye conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you talk with two or three firms including non Ross On Wye conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be helpful:
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Can they put you in touch with clients in Ross On Wye who can give a testimonial?
Leasehold Conveyancing in Ross On Wye - Sample of Questions you should consider before Purchasing
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Does this lease have more than 90 years remaining? It is important to be aware whether changing the roof or some other major work is due shortly to be shared amongst the leasehold owners and may well materially increase the the service costs or require a specific invoice. On the whole the outlay for major works tend not to be incorporated into the maintenance charges, albeit that there some managing agents in Ross On Wye ask leasehold owners to contribute towards a sinking fund and this is used to offset against larger repairs or maintenance.
Our lender agreed in principle to give us a mortgage. We appointed a local conveyancer in Ross On Wye last week. This morning, our mortgage adviser phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their 'approved list'. As FTB's, we did not have a clue that the lender had a say Is this usual?
You can actually select any conveyancing solicitor you want to instruct for your conveyancing in Ross On Wye nevertheless if your mortgage company aren't happy with them you must fork out an extra fee so your bank can appoint their own conveyancer too. It may be conceivable that your solicitor may apply to get included on to the mortgage company panel. You can use online search facilities including lenderpanel.com to find a conveyancing solcitor in Ross On Wye on the bank panel. You can go into your local lender branch in Ross On Wye. They will know some good conveyancing solicitors in Ross On Wye on the panel for your bank.