My wife and I are planning to buy a house in Ashington and are in fact using a Ashington conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Accord Mortgages Ltd have this evening contacted us to advise us that they have now hit a problem as our Ashington conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Ashington solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can your site be used to recommend a Conveyancing solicitor in Ashington even if I’m not purchasing or selling a house, for instance where I want to buy a shop in Ashington with a loan from Birmingham Midshires?
Our comparison service is primarily utilised to help choose domestic conveyancing solicitors in Ashington but we have recorded towards the end of this page some Ashington commercial conveyancing firms. You should make contact with the firm directly to see if they can also act for Birmingham Midshires
I have justfound out that Action Conveyancing have been shut down. They conducted my conveyancing in Ashington for a purchase of a freehold house 9 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The quickest method to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ashington conveyancing specialists.
I'm purchasing a new build house in Ashington with the aid of help to buy. The sellers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not reveal to my conveyancer about the side-deal as it could jeopardize my loan with the bank. Is this normal?.
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.
Due to the encouragement of my in-laws I had a survey completed on a property in Ashington prior to retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies will not issue a loan on this type of property.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can investigate further via 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 Ashington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ashington to see if the conveyancing will be more expensive.
I am due to assess costs for conveyancing in Ashington from various conveyancer and decide on one. Should I instruct them to sit tight until I I have an offer accepted on a apartment.
You should wait to ask your solicitor to open a file and apply for searches after the offer has been accepted on the property particularly as Ashington conveyancing searches are costly.