Me and my partner are planning to purchase a 1 bedroom flat in Aigburth with a mortgage. We have a Aigburth conveyancer, however the lender says she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or retain our Aigburth property lawyer as well as pay for one of their panel ones to act for them. We feel that this is inequitable; is there anything we can do?
No, not really. The mortgage offered to you 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. Another option that might be available is for your Aigburth conveyancing lawyer to apply to be on the conveyancing panel.
Various web forums that I have frequented warn that are the main cause of stalling in Aigburth house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Aigburth.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who dealt with the conveyancing in Aigburth 4 years ago are no longer around. What are my next steps?
You no longer need to have the physical deeds to establish that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
I'm buying a new build house in Aigburth with a loan from Coventry Building Society. The sellers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not disclose to my conveyancer about the extras as it could adversely affect my loan with Coventry Building Society. 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 decided to have a survey completed on a property in Aigburth prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some banks tend refuse to issue a mortgage on this type of home.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Aigburth. Conveyancing will be smoother if you use a solicitor in Aigburth especially if they are acquainted with such properties in Aigburth.
Our lender agreed in principle to grant us a mortgage. We are using a long established conveyancer in Aigburth last week. This morning, our broker contacted us saying that the lender said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the lender had a say Is this usual?
You are at liberty to appoint any property lawyer you wish to appoint including the said conveyancer in Aigburth nevertheless if your bank aren't happy with them you will have to incur additional cost so the bank can instruct their own conveyancer too. It may be possible your preferred conveyancing firm to get added to the lender list of approved firms. You can use online tools such as lenderpanel.com to find a conveyancing solcitor in Aigburth on the bank panel. You can go into your high street bank branch in Aigburth. They will know some good conveyancing solicitors in Aigburth on the approved list.