My wife and I are purchasing a 1 bedroom flat in Foots Cray with a mortgage. We have a Foots Cray lawyer, however the bank says he's not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our Foots Cray conveyancing practitioner and pay for one of their panel ones to act for them. We regard this is inequitable; can we not insist that the bank use our Foots Cray property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your Foots Cray conveyancing solicitor to apply to be on the conveyancing panel.
Why is leasehold purchase conveyancing in Foots Cray is more expensive?
Foots Cray leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I have decided to exercise my right to buy my property in Foots Cray off the council. I have a mortgage agreed with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
I am selling my house. I had a double glazing fitted in March 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, HSBC are being a right pain. The Foots Cray solicitor who is on the HSBC conveyancing panel is saying indemnity insurance will be fine but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told four weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Foots Cray is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm buying a new build house in Foots Cray with the aid of help to buy. The sellers would not budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my solicitor about the deal as it would adversely affect my mortgage with the lender. Should I keep quiet?.
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.
In my capacity as executor for the estate of my aunt I am selling a house in Swansea but live in Foots Cray. My conveyancer (based 260 miles awayneeds me to sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in Foots Cray to witness this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Foots Cray
Would local authority permission be needed to change a house into two appartments in Foots Cray? This has occurred to a house adjacent to a relative in Foots Cray and was unaware of it happening until after the works were finished.
Planning Permission yes. Building Reg Approval yes.