Me and my fiance are purchasing property in Tedburn St Mary. My Solicitor is not listed on the mortgage company solicitor panel. Am I still permitted to appoint my Tedburn St Mary conveyancing solicitor even though they are not on the mortgage company panel?
You have a couple of choices available to you here
- Carry on with your preferred Tedburn St Mary property lawyer but your lender will no doubt appoint a solicitor from their conveyancing panel. This will result in additional charges together with probable interruption.
- Choose a fresh solicitor to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Convince your solicitor to attempt to join the lender panel
Due to complete my purchase in Tedburn St Mary next Tuesday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These requirements are not specific to conveyancing in Tedburn St Mary.
Do I need to attend the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Tedburn St Mary so that I can attend their offices if required.
Most conveyancing panel lawyers for mortgage companies conduct the vast majority of communications through Royal Mail, e-mail or over the phone. This enables them to conduct the legal work for your home move regardless of where you live in the country. However you can check if you can still book an appointment to visit conveyancing lawyer if you prefer.
five months have elapsed following my purchase conveyancing in Tedburn St Mary concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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 am purchasing a new build house in Tedburn St Mary benefiting from help to buy. The developers would not move on the amount so I negotiated £7000 of extras instead. The property agent told me not to tell my solicitor about this deal as it would adversely affect my loan with Barclays . 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.
I decided to have a survey carried out on a house in Tedburn St Mary in advance of appointing conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some banks will refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tedburn St Mary. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tedburn St Mary to see if the conveyancing costs will increase in light of this.