I am selling my house in Garston and the EA has just e-mailed to say that the purchasers are changing their conveyancer. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a leading mortgage company only deal with certain law firms rather the firm that they want to choose for their conveyancing in Garston ?
Banks have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
I am purchasing a house and need a conveyancing solicitor in Garston who is on the Lloyds TSB Bank approved. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Lloyds TSB Bank in certain locations such as Garston. We dont recommend any particular firm.
Planning on purchasing a house in Garston. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society 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 Garston lawyer is on the Santander conveyancing panel.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Garston solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Garston surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My offer on a house in Garston has been agreed to, but there is a chain. The owners have placed an offer on on an apartment, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have chosen a nearby conveyancing solicitor in Garston. What should be my next step? When do I get the mortgage application with Barclays going?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Garston conveyancing search charges, etc). First, you should check that your conveyancing practitioner is on the Barclays approved list. Regarding the subsequent phase this very much dictated by the circumstances of your case, desire for this property and on the state of the market. In a buoyant market many purchasers will apply for the mortgage with Barclays and arrange for the valuation and only if it was satisfactory would they request their conveyancing practitioner to move forward with searches.
I'm purchasing a new build house in Garston with a loan from Nottingham Building Society. The developers would not reduce the price so I negotiated £7000 of additionals instead. The sale representative told me not disclose to my lawyer about this extras as it could adversely affect my mortgage with Nottingham Building Society. 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 opted to have a survey done on a property in Garston ahead of retaining lawyers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some lenders may not grant a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Garston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Garston to see if the conveyancing will be more expensive.
I am looking into buying my first house which is in Garston and I am already nervous. I couldn't find anything specific about Garston. Conveyancing will be needed in due course but do you know about the Garston area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Garston. In the meantime here are some basic statistics that we found