We are hoping to buy a 2 bedroom apartment in Warrington with a mortgage. We have a Warrington conveyancer, however the bank advise he's not on their "panel". It appears that we have no choice but to appoint one of the bank panel solicitors or retain our Warrington property lawyer as well as pay for one of their panel firms to act for them. We feel that this is inequitable; can we not demand that the lender use our Warrington solicitor ?
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. A further alternative is for your Warrington conveyancing lawyer to apply to be on the conveyancing panel.
We wanted to use a property lawyer in Warrington for our house move. Our broker informed us that our bank Barnsley Building Society won't deal with them. Why is this not regarded as unfair competition?
A mortgage company will direct that an approved conveyancer act for it. You would be expected to meet the cost of this. Try using our search facility to select a solicitor to conduct conveyancing in Warrington on the Barnsley Building Society conveyancing panel.
I'm purchasing my first flat in Warrington with a loan from Barclays Direct. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not to tell my lawyer about this deal as it would affect my mortgage 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've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Warrington is the location of the property. Can you shed any light on this issue?
Flying freeholds in Warrington are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Warrington you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Warrington may decide 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.
I'm refinancing my primary property to a buy to let loan with The Royal Bank of Scotland and I will use the rest of the raised equity as a down payment on another house. The area we are looking at is Warrington. Will your lawyers be able to act for both sets of lenders and link together the two deals?
Do use our comparison tool on this page to be sure that the conveyancers are on the relevant lender panels. Assuming that they are the conveyancer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and specify your desired outcome and requirements.
My brother has recommend that I use his lawyers for conveyancing in Warrington. Do I follow his guidance?
No doubt it’s preferable to choose a conveyancing solicitor is to seek guidance from friends or relatives who have used the conveyancer you're contemplating using.