My mortgage broker has asked me for my Earls Barton law firm’s panel reference for the Santander conveyancing panel. How do I find this out. I have contacted my local Earls Barton office but they have not responded to me.
Have you tried contacting your Earls Barton property lawyer about this?. Most Earls Barton conveyancing practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
I am considering applying for a Nationwide mortgage for purchase of a new build (under development) in Earls Barton with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Do I need to take out insurance to cover chancel repairs when buying a house in Earls Barton?
Unless a prior purchase of the property completed after 12 October 2013 you may expect lawyers delivering conveyancing in Earls Barton to remain recommending a chancel search and or chancel repair liability insurance.
I am purchasing a new build house in Earls Barton benefiting from help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not disclose to my lawyer about this side-deal as it may impact my mortgage with the lender. 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 have been on the look out for a ground for flat up to £235,500 and identified one round the corner in Earls Barton I like with a park and transport links in the vicinity, the downside is that it's only got 52 years on the lease. I can't really find anything else in Earls Barton for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Am I right to be concerned about estate agents that I am dealing with are suggesting an online conveyancing firm rather than a local Earls Barton conveyancing practice?
As with many service providers, often input from family and friends can be very helpful. Yet there are many players in a conveyancing matter; estate agents, mortgage brokers and lenders might all recommend lawyers to instruct. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but sometimes there may be a commercial relationship behind the recommendation. You are free to choose your preferred lawyer. However, bear in mind that the majority of lenders have an approved list of solicitors you are obliged to use for the lender aspect of your conveyancing.