I am in the process of selling my home in Lytchett Matravers and the EA has just text me to advise that the purchasers are appointing a new law firm. I am told that this is due to the fact that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with specific lawyers rather the firm that they want to appoint for their conveyancing in Lytchett Matravers ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Mortgage companies blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.
I am purchasing my first flat in Lytchett Matravers with the aid of help to buy. The developers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not disclose to my lawyer about this side-deal as it could jeopardize my loan with the bank. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Lytchett Matravers is where the house is located. What do you suggest?
Flying freeholds in Lytchett Matravers are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lytchett Matravers you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lytchett Matravers may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What does commercial conveyancing in Lytchett Matravers cover?
Lytchett Matravers conveyancing for business premises covers a broad range of services, provided by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Lytchett Matravers. I happened to discover a site which looks to be the ideal solution If there is a chance to get all the legals completed via web that would be ideal. Do I need to be concerned? 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?
I am buying a flat with all finances in place. I have provided solicitor with two separate evidence of photo identification, bank statement, endless utility bills. Now he wants a copy from a probate lawyer acknowledging that the money is in order and that it has come from inheritance and not selling fake DVD.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Lytchett Matravers conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.