Our conveyancer has discovered a a problem with the lease for the apartment we are buying in Shotley Bridge. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. These conveyancing instructions must be adhered to.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Shotley Bridge. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 27/11/2024, the requirements read as follows :
My friend suggested that if I am buying in Shotley Bridge I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Shotley Bridge conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Shotley Bridge around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Shotley Bridge Education with maps and statistics, Local Amenities and other useful data concerning Shotley Bridge.
I am buying my first flat in Shotley Bridge with a loan from Britannia. The builders refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not inform my lawyer about this side-deal as it may put at risk my mortgage with Britannia. 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'm remortgaging my current home to a buy to let loan with HSBC Bank and intend to use the remaining equity as a deposit on another property. The neighborhood we are talking about is Shotley Bridge. Will your solicitors be able to act for the two mortgage companies and tie in the transactions?
Make use of our comparison tool on this site to ensure that the lawyers are approved by both lenders. On the basis that they are your conveyancer will be able to tie up the two conveyancing matters but you should talk with you lawyer and communicate your desired outcome and requirements.
I need to instruct a conveyancing lawyer in Shotley Bridge for my sale. Can I check a firm’s record with the legal regulator?
Anyone may find documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA could monitor telephone calls for training requirements.