We are buying a 2 bedroom flat in Bishops Waltham with a mortgage. We have a Bishops Waltham solicitor, but the bank advise she’s not on their "panel". It appears that we have no choice but to instruct one of the mortgage company panel solicitors or retain our Bishops Waltham conveyancing practitioner and pay for one of their panel ones to act for them. We regard this is inequitable; are we not able to require that the mortgage company use our Bishops Waltham lawyer ?
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 bank’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. A further alternative is for your Bishops Waltham conveyancing lawyer to apply to be on the conveyancing panel.
It is a dozen years since I bought my house in Bishops Waltham. Conveyancing solicitors have now been retained on the sale but I can't locate the deeds. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be retained by the mortgage company or they could be in the possession of the conveyancers who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers obtaining current official copies of the land registers. The vast majority of conveyancing in Bishops Waltham involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
The deeds to my house can not be found. The solicitors who did the conveyancing in Bishops Waltham 10 years ago have long since closed. What do I do?
In today’s world there are duplicates made of almost everything, and your conveyancer will be aware precisely where to find all the appropriate paperwork so you can purchase or sell your house without a hitch. If duplicates can’t be found, your solicitor can arrange cover in the form of insurance or indemnities against possible claims on your premises.
I am buying a new build house in Bishops Waltham with a loan from Clydesdale. The developers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not reveal to my lawyer about this extras as it may jeopardize my loan with Clydesdale. 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.
Due to the guidance of my in-laws I had a survey completed on a house in Bishops Waltham prior to instructing lawyers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some banks tend not give a loan on this type of home.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bishops Waltham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bishops Waltham to see if the conveyancing costs will increase in light of this.
There are a lot of properties in Bishops Waltham on unadopted roads. We are buying one such house. What are the pros and cons of purchasing a residence on a privately owned road?
Bishops Waltham conveyancing practices are familiar with transacting propertieson unadopted roads. Your conveyancer will investigate Land Registry data to identify any rights or liabilities. It is possible that there is a management company (wholly owned by residents) that owners pay into for the upkeep of the road. Where there is one, the road will likely be maintained and look better than council adopted.