It has come to my attention via my lender that my Hoddesdon property lawyer is not on the bank Conveyancing panel. How can I check?
You need to call your Hoddesdon lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may be able to suggest a Hoddesdon conveyancing firm that is on the conveyancing panel for your lender.
Due to complete my purchase in Hoddesdon next Tuesday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the lender expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not limited to conveyancing in Hoddesdon.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would prefer to use a Hoddesdon based conveyancing firm?
You should check but the the likelihood is that give you one of their panel solicitors should you take up the "fee-free" incentive. Speak to the lender and check if they offer you a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Hoddesdon.
Should commercial conveyancing searches disclose impending roadworks that may affect a commercial estate in Hoddesdon?
Its becoming the norm that commercial conveyancing solicitors in Hoddesdon will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Hoddesdon. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Hoddesdon.
For each commercial conveyancing transaction in Hoddesdon it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Hoddesdon commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Hoddesdon.
I'm buying a new build house in Hoddesdon with the aid of help to buy. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not disclose to my lawyer about the extras as it may adversely affect my loan with the bank. Is this normal?.
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 need to retain a conveyancing solicitor for sale conveyancing in Hoddesdon. I have discover a web site which seems to have the ideal solution If there is a chance to get all the legals done via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?