My fiance and I are purchasing a newbuild flat in Hazlemere with a homeloan from Bank of Scotland.We use our Hazlemere conveyancing practitioner but Bank of Scotland says she’s not listed on their "panel". we are left little option but to use a Bank of Scotland panel lawyer or keep our high street solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Bank of Scotland use our lawyer?
No, not really. The loan issued to you contains various provisions, one of which will be that lawyers must be on the Bank of Scotland conveyancing panel. Until recently, most lenders had large numbers of solicitors 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Bank of Scotland
3 months have elapsed since my purchase conveyancing in Hazlemere concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Hazlemere with a mortgage from Clydesdale. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not disclose to my solicitor about the deal as it will adversely affect 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 decided to have a survey carried out on a house in Hazlemere in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some mortgage companies tend not issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hazlemere. Conveyancing will be smoother if you use a solicitor in Hazlemere especially if they are accustomed to such properties in Hazlemere.
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We're novice buyers - had an offer accepted, yet the estate agent informed us that the seller will only proceed if we instruct the agent's chosen conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor used to conveyancing in Hazlemere
It is highly unlikely the owners are behind this. Should the seller desire ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and explain that (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to use your own,trusted Hazlemere conveyancing solicitors - not the ones that will provide the negotiator at the agency a kickback or meet his conveyancing targets pre-set by corporate headquarters.