I can't travel far from Sawtry. I would like to know the reason why all Sawtry conveyancing practitioners aren't automatically on all bank panels?
Even though it may seem unfair for mortgage companies to limit who can represent them, from the public’s or solicitor’s standpoint, the flip side is that banks are increasingly anxious and consider it crucial to defend themselves against illegal activities. As a result of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
We are hoping to buy a 2 bedroom apartment in Sawtry with a residential mortgage from Halifax.We would like to retain our Sawtry conveyancing solicitor but Halifax informed us her practice is not on their approved list of firms. We have to appoint a Halifax panel solicitor or keep our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Halifax use our lawyer?
Unfortunately,no. The loan issued to you contains terms and conditions, a common one being that solicitors must be on the Halifax approved list. Until recently, most mortgage companies had large numbers of solicitors 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 solicitors to apply to be on the conveyancing panel for Halifax
Various online forums that I have visited warn that are a common reason for delay in Sawtry house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Sawtry.
It has been five months following my purchase conveyancing in Sawtry completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Sawtry with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of extras instead. The estate agent suggested that I not to tell my solicitor about the side-deal as it would adversely affect my mortgage with Alliance & Leicester . Is this normal?.
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.
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At this site secure a fixed fee costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Sawtry. As opposed to estate agents and many comparison sites we do not operate referral deals with solicitors. A large number of agents and online brokers 'recommend' solicitors that pays the highest commission, rather than the best value conveyancing in Sawtry