I am need of leasehold conveyancing for an apartment in a relatively new development (seven years old) in Frenchay Common. 95% of the appartments are already occupied. Do I need carry out the neighbourhood searches for my conveyancing in Frenchay Common?
If you getting a mortgage, your bank will need some (many) of the searches so you'll have no choice. If not, then Frenchay Common conveyancing searches are optional. Your solicitor, will 'advise', perhaps strongly, that you should have the searches done, but he or she is duty bound in this regard. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to swap to another solicitor for your conveyancing in Frenchay Common.
My lender has recommended solicitors on their panel based in Frenchay Common but I would rather use a conveyancing lawyer in Frenchay Common or nearer to where I live. Are you able to assist?
Not all Frenchay Common conveyancing practitioners are listed all banks conveyancing panel. Do make the most of our search tool to find a Frenchay Common conveyancing firm on the on the mortgage company panel.
A colleague advised me that where I am purchasing in Frenchay Common I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Frenchay Common conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Frenchay Common around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Frenchay Common Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data about Frenchay Common.
I'm purchasing a new build house in Frenchay Common with the aid of help to buy. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The sale representative told me not to tell my solicitor about this side-deal as it would adversely affect my mortgage with Alliance & Leicester . 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 decided to have a survey completed on a property in Frenchay Common in advance of retaining conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some banks tend not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Frenchay Common. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Frenchay Common to see if the conveyancing costs will increase in light of this.
My step-son is just in the process of moving home, the home loan was agreed last week in principle. One the seller agreed the offer on the apartment we called the lender to progress the mortgage application. We were shocked to hear that banks do not accept all property lawyer, they need to be on their approved list, is this legal?
Banks ordinarily restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Frenchay Common property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.