Me and my wife are buying property in Longlands. My Solicitor has never been on on the bank approved list. Am I still permitted to continue with my Longlands conveyancing solicitor notwithstanding that they are excluded from the lender panel?
Your options include
- Complete the purchase with your chosen Longlands property lawyer but your mortgage company will no doubt retain a conveyancer on their approved panel. This will result in additional fees together with probable frustration.
- Appoint a new property lawyer to conduct the conveyancing, obviously checking they are on the mortgage company conveyancing panel.
- Convince your lawyer to seek to join the bank panel
Is it possible for conveyancing in Longlands to be finalised in less than 3 weeks?
In the event that the seller is applying pressure for your conveyancing it is advisable to make sure that your conveyancer is familiar with the area as they will have local relationships and insight. It is possible that they would have handled previousproperties in the same road. Therefore consider using a Longlands conveyancing lawyer. Second, ensure that the conveyancing firm is on the member panel. It is claimed that just under twenty per cent of Longlands conveyancing deals are frustrated or derailed after finding out that a buyer’s solicitor was not on their mortgage lender’s panel. This can often result in the legal process being held up by as much as three weeks. It is estimated that this issue impacts approximately one hundred thousand home sales annually. Most Longlands conveyancing firms can not represent certain banks so do check at the outset.
My stepmother pointed out to me me that in buying a property in Longlands there could be various restrictions affecting the ability to carry out external changes to the property. Is this right?
There are a number of properties in Longlands which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Longlands should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Does a directory service exist listing RBS panel solicitors in Longlands on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few banks make their panel listings viewable online. If you are in need of a Longlands conveyancing practitioner on the RBS please make the most of our facility.
Last month we had a mortgage agreed in principle with Barclays. Longlands conveyancing solicitors have been chosen. What is the average time that one could expect to receive a mortgage offer from Barclays?
Some lenders take longer than others. Have Barclays done the valuation? Have you advised Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have been told that property searches are the number one cause of hinderance in Longlands house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Longlands.
I am purchasing a new build house in Longlands with the aid of help to buy. The developers refused to move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not reveal to my solicitor about this extras as it will adversely affect my loan with Accord Mortgages Ltd. 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.
Due to the advice of my in-laws I had a survey completed on a property in Longlands before instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some lenders will refuse to give a loan on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you contact us we can check with 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 Longlands. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Longlands to see if the conveyancing costs will increase in light of this.