Our bank has recommended a law firm on their panel based in Whitland but I would rather instruct a conveyancing lawyer in Whitland round the corner to me. Are you able to help?
Not all Whitland conveyancing solicitors are approved and listed on all lender’s conveyancing panel. Use the above search tool to identify a Whitland conveyancing conveyancer on the on the bank panel.
I am buying a new build house in Whitland with the aid of help to buy. The builders would not move on the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my solicitor about this side-deal as it will put at risk my loan with the bank. 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.
Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Whitland I like with open areas and railway links in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Whitland suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Do I need to be wary about third parties that I am dealing with are recommending a national conveyancing firm as opposed to a High Street Whitland conveyancing practice?
As is the case with many service providers, often recommendations from family and friends can be most helpful. Yet there are lots of players in a conveyancing matter; estate agents, mortgage brokers and lenders may recommend conveyancers to select. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the recommendation. You are free to select your own lawyer. Don't forget that the majority of banks have an approved list of lawyers you have to use for the lender aspect of your home move.
My husband and I are new on the property ladder - had an offer accepted, yet the estate agent informed us that the owners will only proceed if we instruct their recommended solicitors as they need an ‘expedited deal’. We would rather use a local conveyancer who is familiar with conveyancing in Whitland
We suspect that the owner is not behind this request. If they require ‘a quick sale', alienating a genuine buyer is going to damage their objectives. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you intend to instruct your preferred Whitland conveyancing solicitors - rather thanthe ones that will give the estate agent a introducer fee or hit his conveyancing targets set by HQ.
My wife and I accepted an offer on a Whitland property we inherited six years ago in 2009. I have over ten years conveyancing experience and, although retired, wish to carry out the legal work. The purchaser's conveyancer has informed me that their building society will not allow you to do your own conveyancing as they require the funds to be passed via a solicitor's bank account.
Lending requirements to solicitors from all mainstream lenders state that If the vendor does not have legal representation the buyer’s lawyers should check whether the mortgage company needs to be told so that a decision can be made if they are willing to progress.