My fiance and I are intent on acquiring a flat in Cilfynydd. My Conveyancer is not listed on the mortgage company approved list. Is it possible for me to retain my Cilfynydd conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel of approved conveyancing solicitors?
You have a couple of choices available to you here
- Complete the deal with your preferred Cilfynydd conveyancer but your lender will undoubtedly appoint a solicitor on their approved panel. The net result is additional fees together with potential interruption.
- Get a fresh property lawyer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your solicitor to pull out all the stops to get accepted on the mortgage company panel of solicitors
My solicitor has identified a a problem with the lease for the property we are purchasing in Cilfynydd. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer says that he must check that the bank is content with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. The appropriate lender conditions have to be complied with.
My flat in Cilfynydd is up for sale and I have a buyer. Does my lawyer have to be required to be on the RBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the RBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
If you had a top tip for selecting a conveyancing solicitor in Cilfynydd what would it be?
It would be unwise to be swayed by the cheapest Cilfynydd conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
My wife and I have organised a further advance on our mortgage from Aldermore as we wish to conduct renovations to our house in Cilfynydd. Are we obliged to choose a local Cilfynydd solicitor on the Aldermore conveyancing panel to handle the paperwork?
Aldermore do not ordinarily instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
I recently had an offer agreed on an apartment in Cilfynydd. My financial adviser recommended their conveyancers. I paid an upfront payment of £225. A couple of days later, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the Yorkshire BS 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 Yorkshire BS 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.
I am purchasing a new build house in Cilfynydd with a mortgage from Norwich and Peterborough Building Society. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not to tell my lawyer about the extras as it may put at risk my mortgage with Norwich and Peterborough 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.
I need to retain a conveyancing solicitor for residential conveyancing in Cilfynydd. I've stumble across a web site which seems to have the perfect answer If there is a chance to get all the legals completed via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?