Me and my partner are purchasing an apartment in Martock. My lawyer is not listed on the mortgage company conveyancing list. Is it possible for me to continue with my Martock conveyancing solicitor even though they are excluded from the mortgage company panel?
You have numerous alternatives available to you here
- Complete the purchase with your existing Martock conveyancer but your mortgage company will no doubt use a property lawyer from their conveyancing panel. The net result is additional charges and potential interruption.
- Get a new property lawyer to act in the purchase, obviously checking they are on the bank conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to get accepted on the mortgage company conveyancing panel
I am buying a newly constructed apartment in Martock and my lawyer is advising me that she has to the mortgage company to reveal incentives from the developer. The Estate Agents are hassling me to exchange and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Completed the sale of my flat in Martock last July but the buyer keeps telephoning me to moan that their lawyer needs to hear from mylawyer. What are the post completion sale formalities now that I have sold?
Following your house sale your solicitor should send the transfer documentation and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer should also send confirmation that the home loan has been discharged to the purchasers conveyancers. There are no post completion tasks specific conveyancing in Martock.
I'm purchasing my first flat in Martock with the aid of help to buy. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my solicitor about this extras as it may affect my mortgage 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 UK Finance website. UK Finance 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.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Martock I like with amenity areas and transport links nearby, however it's only got 51 years on the lease. There is not much else in Martock in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I require the services of a bank panel solicitor in Martock. Could you help me?
It is not clear why you need a Martock panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Martock are on their panel . If you do find such a firm in Martock not listed please direct them to our site to list. After all the cost is only one £1 a month