I am obtaining a offer of a home loan from Nat West. My intention is to instruct a Licensed Conveyancer in Comberton. Does the Nat West Solicitor panel allow for conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Can I use your services to find a Conveyancing solicitor in Comberton even if I’m not purchasing or selling a house, for example where I want to buy a shop in Comberton with a loan from Godiva Mortgages Ltd?
The service is mainly used to get a quote from domestic conveyancing solicitors in Comberton but we have recorded towards the end of this page a selection of Comberton commercial conveyancing firms. You will need to enquire with the firm directly to see if they are also authorised to represent Godiva Mortgages Ltd
We previously chose conveyancers locally in Comberton on the HSBC solicitor panel. They have just billed me a supplemental sum for the legal aspects of the HSBC mortgage. Is this an additional conveyancing fee set by HSBC?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This charge is not dictated by HSBC but by your Comberton solicitor. Plenty of firms on the HSBC panel will levy an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
I currently have a mortgage with Virgin Money for my property in Comberton. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
You must advise Virgin Money in advance of renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. You need not do this via a Virgin Money conveyancing panel lawyer.
Virgin Money have agreed my home loan in principle, my offer on a property in Comberton has been agreed to, what happens next?
The estate agent will need to be advised as to your solicitor's details (ensure that the conveyancing practitioners are on the lender’s approved list). Telephone Virgin Money or the broker and finish off any appropriate documentation. Virgin Money will instruct a valuer who will get in contact with the estate agent or owners to book a time for the valuation to occur. Once carried out (assuming no problems) it takes about ten days to receive the mortgage offer. Virgin Money will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Comberton.
I am purchasing a new build house in Comberton with the aid of help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not reveal to my lawyer about the extras as it would impact my loan with Birmingham Midshires. 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.
My husband and I are first time buyers - agreed a price, yet the property agent has warned us that the vendor will only move forward if we use the agent's chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor who is accustomed to conveyancing in Comberton
We suspect that the owner is unaware of this demand. Should the vendor desire ‘a quick sale', turning down a motivated purchaser is counter productive. Try to communicate with the owners directly and make sure they understand (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to appoint your own,trusted Comberton conveyancing lawyers - not the ones that will give the negotiator at the agency a kickback or achieve conveyancing targets pre-set by corporate headquarters.
Are all Comberton conveyancers on every lender conveyancing panel?
The Lexsure search tool on this page may be of use or you can drop into your high street bank branch in Comberton. Chances are that they will be in a position to recommend some approved conveyancing solicitors in Comberton