Is the fact that my conveyancer in Newbridge is not identified on my bank's conveyancing panel that there is a problem with the quality of her conveyancing?
That would most likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Newbridge conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
My husband and I are purchasing a new build duplex in Newbridge and my solicitor is telling me that she is duty bound to the bank to disclose incentives from the builder. The Estate Agents are hassling me to exchange and I would rather not prolong 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 mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
How do I check that the solicitor conducting my conveyancing in Newbridge is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Britannia thus spending £192.00 in supplemental legal costs.
Feel free to take advantage of the find a conveyancing panel solicitor tool on this page. Please choose the lender and type ‘Newbridge’ or your preferred area and you will be presented with numerous solicitors based in Newbridge or near you.
I am purchasing my first flat in Newbridge benefiting from help to buy. The developers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not reveal to my solicitor about this extras as it will jeopardize 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.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Newbridge I like with amenity areas and station in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Newbridge suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan that many years will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
My uncle has recommend that I instruct his lawyers for conveyancing in Newbridge. Do I follow his recommendation?
Much as we are happy to recommend a Newbridge conveyancing lawyer the ideal way to find a conveyancing practitioner is to seek feedback from friends or family who have previously instructed the conveyancer you're are thinking of instructing.