Much to our surprise we have been notified by our estate agent that my Wells Next The Sea property lawyer is not on the mortgage company Solicitor panel. What can I do to be certain whether this is indeed the case?
You need to call your Wells Next The Sea conveyancer. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they may be able to suggest a Wells Next The Sea conveyancing practice that is on the conveyancing panel for your bank.
We see that you have a search directory identifying firms on the Principality conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Wells Next The Sea?
We are a listing service only for law firms wishing to communicate if they are on the Principality conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Wells Next The Sea.
My husband and I decided to purchase a newly converted apartment in Wells Next The Sea with a homeloan from Coventry Building Society.We use our Wells Next The Sea conveyancing lawyer but Coventry Building Society says her practice is not on their "panel". It seems we have no choice but to instruct a Coventry Building Society panel firm or retain our preferred solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that Coventry Building Society use our lawyer?
No, not really. The loan offered to you is subject to its various provisions, one of which will be that solicitors must be on the Coventry Building Society solicitor 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 solicitors to apply to be on the conveyancing panel for Coventry Building Society
I am buying a new build house in Wells Next The Sea with the aid of help to buy. The developers refused to reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not to tell my conveyancer about this extras as it would affect my loan with the bank. 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.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Wells Next The Sea is the location of the property. Can you shed any light on this issue?
Flying freeholds in Wells Next The Sea 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 Wells Next The Sea you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wells Next The Sea 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.
My father-in-law has suggested that I instruct his lawyers for conveyancing in Wells Next The Sea. Should I use them?
There are no two ways about it the ideal way to choose a conveyancing lawyer is to seek referrals from friends or family who have actually previously instructed the firm you're are thinking of instructing.