Much to our surprise we have been notified by our estate agent that my Brading solicitor is not on the mortgage company Solicitor panel. How can I be sure that this is correct?
Your first step should be to contact your Brading lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they may be able to suggest a Brading conveyancing practice that is on the approved list of lawyers for your mortgage company.
Can the conveyancing solicitors that you recommend execute conveyancing in Brading by way of an attended exchange?
There are a few conveyancing specialists who can conduct 24hr exchanges. Please call us to receive a costs illustration and details as to dates.
Are all Brading Conveyancing Quality Solicitors on the Principality conveyancing list of approved practices?
A selection of banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
When it comes to mortgage companies such as Virgin Money, do Brading conveyancers face a yearly amount to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
After much negotiation I have agreed a price on an apartment in Brading. My financial adviser suggested a property lawyer. I paid an on account payment of £200. A few days later, the lawyer contacted me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My relative recommended that where I am purchasing in Brading I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Brading conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Brading around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Brading Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Brading Education with maps and statistics, Local Amenities and other useful data regarding Brading.
I am buying my first flat in Brading with a loan from Barnsley Building Society. The sellers refused to budge the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not to tell my conveyancer about the deal as it may jeopardize my mortgage with the lender. 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 opted to have a survey carried out on a house in Brading ahead of appointing lawyers. I have been told that there is a flying freehold element to the property. My surveyor advised that some banks may not grant a loan on such a house.
It depends who your proposed lender is. HSBC has different requirements from Halifax. Should you wish to telephone 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 Brading. Conveyancing may be slightly more expensive based on your lender's requirements.