We are buying a 3 bedroom apartment in Cheddleton with a mortgage. We would like to retain our Cheddleton solicitor, however the bank says she’s not on their "panel". It appears that we have little choice but to use one of the bank panel solicitors or keep our Cheddleton solicitor as well as pay for one of their panel lawyers to represent them. This feels very unfair; can we not require that the mortgage company use our Cheddleton conveyancer ?
Unfortunately,no. 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 Cheddleton conveyancing lawyer to apply to be on the conveyancing panel.
My solicitor has identified a defect with the lease for the flat we are purchasing in Cheddleton. The other side have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must ensure that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
I require quick conveyancing in Cheddleton as I am under a deadline to sign on the dotted line in less than one month. A home loan is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to do searches although no solicitor would recommend that you don't. With plenty of history conveyancing in Cheddleton the following are instances of what can show up and adversely impact market value: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
My wife and I purchased a renovated Georgian house in Cheddleton. Conveyancing practitioner represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cheddleton and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who completed the work.
I'm buying a new build house in Cheddleton with a mortgage from Chelsea Building Society. The sellers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not reveal to my solicitor about this side-deal as it would put at risk my loan with Chelsea Building Society. 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.
What are the specific benefits to choosing a high street conveyancer in Cheddleton
Many purchasers and sellers in Cheddleton select a nearby high street property lawyer so that they can visit just in case they have concerns, and to execute paperwork rather than relying on the Royal Mail.
There is a distinct edge when opting for a lawyer local to a property you are buying, due to the knowledge of the locality and possible local issues - nevertheless this is moot. Many conveyancers are now via the web and may be any place in the world.