Me and my fiance are purchasing a 1 bedroom flat in St Ives with a mortgage. We wish to retain our St Ives lawyer, however the mortgage company advise he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our St Ives lawyer as well as pay for one of their panel lawyers to represent them. We regard 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 St Ives conveyancing solicitor to apply to be on the conveyancing panel.
Can the conveyancing practitioners listed on your site perform right to buy conveyancing in St Ives?
We work with a variety of conveyancing practitioners who can conduct right to buy transactions Do e-mail the conveyancers listed in order to obtain a costs calculation.
My colleague suggested that where I am buying in St Ives I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard St Ives conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about St Ives 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 Property Price, Crime details, St Ives Education with maps and statistics, Local Amenities and other useful data concerning St Ives.
I am buying a new build house in St Ives with a loan from Platform Home Loans Ltd. The developers would not reduce the amount so I negotiated 6k of extras instead. The estate agent suggested that I not inform my lawyer about this side-deal as it may impact my loan with the bank. Is this normal?.
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've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, chain free conveyancing. St Ives is the location of the property. Is there any advice you can impart?
Flying freeholds in St Ives are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Ives you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Ives may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it possible for you to suggest a property lawyer for buying a bungalow? Ideally someone in the St Ives area, who will communicate via email - not someone who insists on a letter in the post or fax.
LenderPanel.com is limited to being a directory service for solicitors who want to be listed as being on the approved conveyancing panel for Co-operative in certain areas for example St Ives . We dont recommend any specific property lawyer.