I have just been advised by my broker that my Crynant solicitor is not on the mortgage company Conveyancing panel. What can I do to be sure whether this is correct?
The first thing you need to do is to contact your Crynant lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they may recommend you to a Crynant conveyancing firm that is on the conveyancing panel for your bank.
The Crynant conveyancing firm handling our Crynant conveyancing has spotted an inconsistency between the surveyor’s assumptions in the home valuation report and what is revealed within the title deeds. My lawyer informs me that he is obliged to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
My husband and I are hoping to buy a newbuild apartment in Crynant with a loan from Britannia.We use our Crynant conveyancing solicitor but Britannia advised that his firm is not listed on their "panel". It seems we are left with little choice but to instruct a Britannia panel solicitor or keep our high street solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Britannia use our lawyer?
No, not really. The loan issued to you is subject to its various provisions, a common one being that conveyancers needs to be on the Britannia conveyancing panel. Until recently, most banks had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Britannia
I am buying a new build house in Crynant with the aid of help to buy. The builders refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not to tell my lawyer about this extras as it may jeopardize my loan with Virgin Money. Do I keep my lawyer in the dark?.
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 just appointed agents to market my ground floor flat in Crynant. Conveyancing has not commenced, however I have recently received a quarterly service charge invoice – Do I pay up?
The sensible thing to do is discharge the service charge as normal because all ground rent and service invoices will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a ground floor flat in Crynant, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Crynant with a long lease are worth £255,000. The ground rent is £45 per annum. The lease terminates on 21st October 2099
With 73 years remaining on your lease we estimate the price of your lease extension to be between £8,600 and £9,800 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
My wife and I have today had an offer accepted on our 1st house in Crynant, and are about to get solicitors instructed. I have used the various rating tools and the quotes are from all over the country. Is it important to have a Crynant conveyancing practitioner local to your potential new home? I am willing to do everything electronically, but I guess at some stage we will be required to attend the solicitor's office to sign papers?
The conveyancing practitioner does not have to be in Crynant, but opting for local means that you have the option to visit their offices if you need to, for instance, if a signature is immediately necessary. In addition, a Crynant solicitor is likely to be familiar with local agents and (if the vendor has instructed a local conveyancer) with them, which will help keep things moving faster.