We had chosen solicitors located in Corwen on the Leeds Building Society solicitor panel. They are now charging me an additional sum for the legal aspects of the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your property lawyer is entitled to charge a fee for this. The fee is not set by Leeds Building Society but by your Corwen lawyer. Plenty of firms on the Leeds Building Society panel will charge an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
My wife and I have arranged the release of further monies on our mortgage from Leeds Building Society as we wish to conduct improvements to our property in Corwen. Do we need to select a high street Corwen solicitor on the Leeds Building Society conveyancing panel to deal with the paperwork?
Leeds Building Society don't usually instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
I currently have a mortgage with Nationwide for my property in Corwen. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
You must advise Nationwide before letting out your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies 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 Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel firm.
I used Arc property Solicitors several years ago for my conveyancing in Corwen. I now require my file however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Corwen of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Corwen with the aid of help to buy. The builders would not budge the amount so I negotiated £7000 of extras instead. The sale representative advised me not inform my conveyancer about the deal as it could affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Corwen is where the house is located. Can you offer any opinion?
Flying freeholds in Corwen are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Corwen you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Corwen may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have been advised by a few property agents in Corwen to get a quote from a conveyancer on your site. What’s the financial upside for Estate Agents to promote your services over another?
We don’t offer any referral fee for directing people our way. We thought it would be too underhand to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are novice buyers - had an offer accepted, but the estate agent advised that the seller will only issue a contract if we use their recommended solicitors as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor used to conveyancing in Corwen
It is improbable the vendors are driving this. Should the seller desire ‘a quick sale', turning down a genuine buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you are unencumbered (d) you wish to move quickly (e)but you intend to use your preferred Corwen conveyancing firm - not the ones that will provide their negotiator at the agency a introducer fee or achieve conveyancing figures pre-set by corporate headquarters.