I am buying property in Willen. My Conveyancer is not on the bank conveyancing panel. Is it possible for me to appoint my Willen conveyancing solicitor notwithstanding that they are not on the lender panel of approved conveyancing solicitors?
You have a couple of choices open to you here
- Carry on with your existing Willen property lawyer but your lender will need to retain a conveyancing practitioner on their approved list. This will result in additional fees together with likely frustration.
- Get a fresh lawyer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your solicitor to seek to join the lender panel
My partner and I are approaching an exchange on a house in Willen and my mum and dad have transferred the exchange deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my lawyer needs to disclose this to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your lawyer is legally required to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We are hoping to buy a newly converted flat in Willen with a homeloan from National Westminster Bank.We would like to retain our Willen conveyancing practitioner but National Westminster Bank advised that she’s not listed on their "panel". It seems we have no choice but to instruct a National Westminster Bank panel solicitor or keep our preferred solicitor and fork out for a National Westminster Bank panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The home loan issued to you is subject to its terms and conditions, a common one being that solicitors needs to be on the National Westminster Bank approved list. in the past, most mortgage companies had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for National Westminster Bank
I'm purchasing a new build house in Willen benefiting from help to buy. The developers would not move on the amount so I negotiated 6k of extras instead. The sale representative suggested that I not reveal to my conveyancer about this extras as it will put at risk my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Due to the encouragement of my in-laws I had a survey completed on a property in Willen in advance of retaining solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may not issue a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Willen. Conveyancing will be smoother if you use a solicitor in Willen especially if they are accustomed to such properties in Willen.
My cousin has recommend that I use his conveyancers in Willen. Should I use them?
Much as we are happy to recommend a Willen conveyancing lawyer the best way to find a conveyancing practitioner is to seek feedback from friends or family who have actually used the conveyancer you're are thinking of instructing.