I am buying a newly built apartment in Waterloo and my lawyer is telling me that she has to the lender to reveal incentives from the seller. I am on a tight deadline to sign contracts and I have no desire to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a search tool that I can utilise to investigate if the solicitor conducting my conveyancing in Waterloo is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus spending £192.00 in supplemental conveyancing fees.
You should make use of the find a lender approved solicitor tool on this web page. Please choose the mortgage company and type ‘Waterloo’ or your location and you will discover a number of lawyer based in Waterloo or near you.
My wife and I have a 4 bedroom Edwardian house in Waterloo. Conveyancing practitioner represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the matching address. Is it worth asking HSBC Bank to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Waterloo and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing solicitor who conducted the work.
I am purchasing a new build house in Waterloo with the aid of help to buy. The developers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not to tell my solicitor about this deal as it will jeopardize my loan with Santander. Should I keep quiet?.
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.
My husband and I are 17 days into a freehold purchase having been recommend to solicitors by the selling agent to handle our conveyancing in Waterloo. I am not happy. Can you help me find new conveyancers?
They would have to be very bad in order to consider diss instructing them. Has your mortgage offer been issued? In the event that it has you need to inform them of the new contact details and get the offer are re-issued. Your conveyancer should be on the mortgage company approved list to avoid added fees and complications. So that should be your first question of the new conveyancers. Our search tool should assist you in finding a bank approved solicitor for your conveyancing in Waterloo
I have been recommended a conveyancing solicitor in Waterloo. I need to find out if they are listed on the bank's conveyancing panel. Can you or the bank confirm if they are on the panel?
One option is to phone your lawyer to enquire if they are on the bank's panel. If that does not help get in touch with us and we can make some checks for you. If they are not on the bank panel we we can help find a reputable conveyancing solicitor in Waterloo on the approved list for your mortgage company.