I have a decision in principle. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to instruct a Newcastle upon Tyne based conveyancing firm?
You should check but the the likelihood is that appoint one of their panel lawyers should you accept the "fee-free" deal. Speak to the bank and explore if they allow a monetary alternative. Some banks have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Newcastle upon Tyne.
How can we know in advance if a Newcastle upon Tyne conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Newcastle upon Tyne obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your conveyancing.
We were going to get a OIP from Bank of Ireland this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Newcastle upon Tyne solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Newcastle upon Tyne solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Newcastle upon Tyne conveyancing practitioner on the Co-operative panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
3 months have gone by since my purchase conveyancing in Newcastle upon Tyne took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Newcastle upon Tyne benefiting from help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not to tell my conveyancer about this deal as it would impact my loan with Barclays Direct. 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.
Given that I will soon part with hundreds of thousands of pounds on a garden flat in Newcastle upon Tyne I would like to have a conversation with the solicitor regarding thehouse move in advance of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your property ownership legalities in Newcastle upon Tyne.There is no ‘factory style conveyancing’ - each client is unique person, not a case reference. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Newcastle upon Tyne should be the amount on the final invoice that you are charged.
My 20yr old son is about to join the property ladder, he had his mortgage in principle. When the seller agreed the offer on the flat we called the lender to progress the mortgage application. We were disappointed to hear that mortgage companies do not accept all property lawyer, they have to be on a list, is this right?
Lenders tend to restrict either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Newcastle upon Tyne conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.