Can you explain why leasehold purchase conveyancing in Seaham costs more?
Seaham leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Seaham with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?
There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Can you point me to a directory of Yorkshire BS panel conveyancers in Seaham on the Council of Mortgage Lender’s Website?
No. There is no such facility on the CML or Building Society Association sites. Very few mortgage companies make their panel listings viewable over the internet. Where you are in need of a Seaham property lawyer on the Yorkshire BS please use our facility.
Completion of my purchase has taken place for my property in Seaham. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am selling my flat. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, TSB are being difficult. The Seaham solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I'm purchasing my first flat in Seaham with the aid of help to buy. The builders would not reduce the price so I negotiated 6k of extras instead. The property agent suggested that I not to tell my lawyer about the extras as it may jeopardize my loan with Norwich and Peterborough Building Society. 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 was recommended by two or three local selling agents in Seaham to select a conveyancer on your site. What’s the financial advantage for Estate Agents to market your site ahead of alternative conveyancing organisations?
We refuse to give any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My lawyer in Seaham has informed me that he requires identification documents saying that this forms part of his retainer as a solicitor on the lender Conveyancing panel. Can this be correct?
Anti-terror and anti-money-laundering rules require Seaham conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the bank's UK Finance Lenders’ Handbook requirements