Me and my partner are purchasing a 1 bedroom flat in Llandudno with a mortgage. We would like to retain our Llandudno lawyer, however the lender says he's not on their "panel". It seems we have no option but to appoint one of the lender panel firms or retain our Llandudno lawyer as well as pay for one of their panel lawyers to act for them. We consider that this is inequitable; can we not require that the lender use our Llandudno conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Llandudno conveyancing solicitor to apply to be on the conveyancing panel.
Are the Llandudno conveyancing solicitors identified as being on the Coventry BS conveyancing panel, together with their details provided by Coventry BS?
Llandudno conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to appoint a Llandudno based conveyancing firm?
Do check but the the likelihood is that give you one of their panel lawyers should you accept the "fee-free" incentive. Call the lender to see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Llandudno.
I understand that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a residence in Llandudno? or Apparently there is a law dating back centuries that means some homeowners living in a parish church boundary may be liable to pay for maintenance towards the chancel in proximity to the church. Is this appropriate for conveyancing in Llandudno?
Unless a prior purchase of the house took place post 12 October 2013 you could expect lawyers handling conveyancing in Llandudno to continue to recommend a chancel search and or chancel repair liability insurance.
I am purchasing a new build house in Llandudno with a loan from Halifax. The builders would not reduce the price so I negotiated 6k of additionals instead. The house builders rep advised me not disclose to my conveyancer about this deal as it would impact my mortgage with Halifax. 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.
Due to the guidance of my in-laws I had a survey completed on a house in Llandudno in advance of appointing lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies will refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you contact us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Llandudno. Conveyancing will be smoother if you use a solicitor in Llandudno especially if they are accustomed to such properties in Llandudno.