My partner and I are planning to acquire a home in St Leonard Shoreditch and are in fact using a St Leonard Shoreditch conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Santander have this morning contacted us to advise us that they have now hit a problem as our St Leonard Shoreditch lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own St Leonard Shoreditch solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
My partner and I are close to exchanging contracts on the sale of our property in St Leonard Shoreditch and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing practice rather than a conveyancing solicitor in St Leonard Shoreditch. Having lived in St Leonard Shoreditch for many years we know that this is a non issue. Should we get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am buying my first flat in St Leonard Shoreditch with a mortgage from TSB. The builders would not reduce the price so I negotiated 6k of additionals instead. The estate agent told me not inform my lawyer about the side-deal as it will jeopardize 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 house in St Leonard Shoreditch prior to instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders may not give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St Leonard Shoreditch. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in St Leonard Shoreditch to see if the conveyancing costs will increase in light of this.
How simple is it to use your search tool to choose a conveyancing solicitor in St Leonard Shoreditch on the panel for my lender?
1st pick a mortgage company such as Nationwide Building Society, The Royal Bank of Scotland or Godiva Mortgages Ltd then specify your location for instance St Leonard Shoreditch. Conveyancing firms in St Leonard Shoreditch and across England and Wales should be listed.
I need to retain a conveyancing solicitor for some conveyancing in St Leonard Shoreditch. I've discover a web site which looks to be the ideal solution If there is a chance to get all formalities done via email that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?