We are buying a 3 bedroom flat in Monkseaton with a mortgage. We like our Monkseaton solicitor, but the bank says she’s not on their "panel". It appears that we have little choice but to use one of the lender panel conveyancing practices or keep our Monkseaton conveyancing practitioner as well as pay for one of their panel firms to act for them. We regard this is unjust; can we not demand that the bank use our Monkseaton conveyancer ?
No, not really. Your mortgage offer 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. Another option that might be available is for your Monkseaton conveyancing solicitor to apply to be on the conveyancing panel.
Last October we completed a house move in Monkseaton. We have since encountered a number of problems with the house which we consider were omitted in the conveyancing searches. Is there anything we can do? What searches should? have been ordered as part of conveyancing in Monkseaton?
The query is vague as to the nature of the problems and if they are relate to conveyancing in Monkseaton. Conveyancing searches and due diligence initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, a property owner completes a document referred to as a SPIF. answers turns out to be incorrect, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Monkseaton.
My wife and I are purchasing a flat in Monkseaton. It might be a silly question but how we can trust a solicitor? At some point we have to deposit our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Forgive me if this question is silly but I am unexperienced as a first time purchaser of a two bedroom flat in Monkseaton. Do I pick up the keys to the house on completion from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Monkseaton?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the owner’s solicitors, and shortly after the monies have arrived, you will be invited to pick up the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
I have instructed a Monkseaton conveyancer having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Monkseaton postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Monkseaton.
I'm purchasing my first flat in Monkseaton with a mortgage from Birmingham Midshires. The developers would not move on the amount so I negotiated £7000 of extras instead. The house builders rep advised me not to tell my conveyancer about this deal as it will affect my loan with the bank. 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.
What does commercial conveyancing in Monkseaton cover?
Non domestic conveyancing in Monkseaton covers a broad range of advice, offered by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, 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 mortgages and the termination of tenancies.
Me and my fiance are expecting to complete on the purchase a property in Monkseaton but as a result of wreckage from the recent storms I have agreed compensation from the seller of £3k in the form of a adjustment in the price. This was going to be addressed as part of the conveyancing process yet the bank will not permit this. Why were they involved?
The solicitor listed on a lender approved list is duty bound to advise the bank of any amendments to the sale amount. In the event that you were to refuse your conveyancer to disclose the reduction to your bank then they would have to refrain from representing you and the bank.