Souldusing a Criccieth conveyancing practitioner make my purchase more efficient?
On the whole conveyancing practitioners in your neck of the woods will enjoy good connections with your local authority, which could assist with the Criccieth conveyancing searches that your lawyer will require. It also helps if they enjoy existing relationships with the Local Land Registry Office your area Criccieth, other lawyers in the area and Criccieth Estate Agents.
Can you help? My Criccieth solicitor is advising me that he has toconduct Criccieth conveyancing searches asthe firm are on the Santandersolicitor panel. Do I not have any say here?
You have limited options available to you. As you are obtaining a home loan with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Criccieth conveyancing searches.
My property lawyer in Criccieth has never been on on the Britannia Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are not on the Britannia approved list?
Your options are as follows:
- Carry on with your existing Criccieth solicitors but Britannia will need to instruct a lawyer on their list of acceptable firms. This will inevitably rack up the overall conveyancing fees and cause frustration.
- Get an alternative lawyer to act in the purchase, not forgetting to check they are Convince your conveyancer to use their best endeavours to join the Britannia conveyancing panel
I am purchasing a property in Criccieth. A rare aspect is that the roof has a solar panel. Bank of Ireland have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Bank of Ireland your lawyer must comply with the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and property lawyers are required to report to Bank of Ireland where a lease fails to meet these conditions. The conditions relate to the installation of panels on properties nationwide and is not restricted to Criccieth.
Planning on purchasing a flat in Criccieth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Criccieth solicitor is on the Santander conveyancing panel.
Santander have agreed my home loan in principle, my offer on a flat in Criccieth has been accepted, what happens next?
The property agent will wish to be informed of your property lawyer's details (ensure that the conveyancers are on the bank’s approved list). Telephone Santander or the broker and finish off any outstanding paperwork. Santander will instruct a valuer who will get in contact with the selling agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Santander will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Criccieth.
I am purchasing a new build house in Criccieth with a mortgage from Virgin Money. The builders would not budge the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not disclose to my lawyer about this extras as it will affect my loan with Virgin Money. 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.
I have been on the look out for a leasehold apartment up to £305k and identified one near me in Criccieth I like with open areas and station nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Criccieth for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.